Late on the night of September 6, 1776, a bizarre object bobbed in the water in New York Harbor off the stern of the HMS Eagle, the flagship of Admiral Richard Howe.
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Date: 05 May 2021
How to help your drivers trade up to the EV they want, at no cost to your business
Over the past year, there has been increased demand for businesses to be more environmentally friendly, especially as strict national lockdowns and reduced travel led to a significant drop in carbon emissions. And with the Government s 2030 deadline banning the sale of new petrol and diesel vehicles also approaching, alongside reduced BIK tax rates, many are now wanting to make the move towards electric.Â
Considering this timeline and the higher upfront costs associated with electric vehicles (EV) and plug-in hybrids (PHEV), we are likely to see a shift towards more people opting for leasing models, instead of purchasing outright. Whilst EVs may be more expensive to purchase upfront, it is important to look at the whole life cost (WLC) of the vehicle, which is where we start to see the financial benefits of going electric. These benefits are further increas
Click the thumbs up >Budget 2021 included an increase in corporation tax which, according to Alphabet, needs to be “carefully considered” by businesses when devising fleet strategy.
The Chancellor of the Exchequer, Rishi Sunak, announced that corporation tax will increase from 19% to 25% in April 2023.
Companies with profits of £50,000 or less, however, will remain at the current rate of 19%, and there will be a taper for firms earning above £50,000, with only firms earning £250,000 or above paying the full 25% rate.
The Treasury insists that 70% of businesses will be unaffected. But, with a reduction in the threshold for lease rental restrictions to 50g/km and below from this month (April) (meaning cars with higher emissions only qualify for 85% tax relief, not 100%), David Bushnell, principal consultant at Alphabet (GB), is urging fleets to consider how the changes could impact their bottom line.