Budget 2014 has no change in VRT relief for EV’s and Hybrids

Budget 2015 which was announced on the 14th October 2014 and has seen no change to the VRT and tax reliefs available for EV and Hybrids which were due to expire in December 2014. At present, VRT is calculated by CO2 emissions, a vehicle that has CO2 emissions of 120g/km  or less fall into category A and pay the lowest […]

Accelerated Capital Allowances for Electric Vehicles

Capital Allowances allow a business to gain relief from Corporation Tax on money spent on capital equipment purchases such as vehicles. The relief is received by allowing the company to reduce its taxable income by an amount equal to the pre-tax value of the asset. The company therefore “writes down” the asset against profits. They […]

EV and Hybrid Motor tax and VRT

Battery Electric Vehicles have no CO2 emissions (i.e. direct emissions) , and Plugin Hybrid Electric Vehicles HEVs, in accordance with the drive cycle and method used to calculate emissions, should have CO2 emissions in the region of 60g/km.  These direct CO2 emission values are used to calculate the appropriate Vehicle Registration Tax (VRT) and annual […]