With minimal BIK tax, low running costs and technology that makes public charging easy, there’s never been a better time to add an EV to your fleet.
There are plenty of reasons an electric Kia could benefit you and your business. Announcements within the 2021 Budget plan highlighted that benefits such as low BIK tax will remain in place until at least 2025. Furthermore, choosing a fully electric Kia brings additional cost efficiencies and benefits to your business.
Electric vehicles will attract a BIK tax rate of just 1% from April 2021, offering substantial savings potential over a three-year cycle. From 2022, the BIK tax rate for EVs moves to 2% and remains at that level until 2025. For context, a typical petrol car that emits 130g/km would attract a 30% BIK rate. That’s a substantial difference.
It’s not just low BIK tax that makes electric cars an appealing proposition for businesses. Electric vehicles – such as the e-Niro or Soul EV – qualify for a full deduction in Capital Allowances. So there’s a potential for savings even before the car is on the road. Once you have an electric car in your fleet, you’ll quickly notice that they cost substantially less to run. That’s partly because electricity is far cheaper than either petrol or diesel. So you could expect to see notable savings on your fuel bill. And, because electric cars have significantly fewer moving parts, service and maintenance costs are lower, too. When you’re out on the road, you’ll find yet more opportunities for savings – electric cars sometimes qualify for free parking and are exempt from certain charging zones, such as London’s congestion charge, for example.
For most drivers, the majority of charging is done at home or work. Though the e-Niro and Soul EV are capable of 280 miles on a single charge, there will be times when high-mileage drivers need to use a public chargepoint. To help make that as simple as possible, Kia has introduced KiaCharge which lets you locate, access and pay for charging across the majority of UK networks using one, easy solution. It gives you access to more than 15,000 UK connectors, as well as 190,000 chargers across 28 other European countries. And, KiaCharge offers two flexible tariffs to help you get the most cost-efficient solution, depending on your usage habits. There’s no need to waste time downloading multiple apps and signing up to various providers, which leaves you more free time to be inspired.