Tusker, provider of salary sacrifice car benefits schemes, welcomes the Chancellor’s decision to keep Benefit in Kind stable for EVs until 2025, allowing the ongoing adoption of EVs by the British public to continue.
In offering stability and clarity around Benefit in Kind Tax, Tusker and the rest of the industry can continue to help all drivers to access new, safe and environmentally friendly cars in a cost-effective manner.
Paul Gilshan, CEO at Tusker commented “We remain committed to ensuring ordinary drivers can access affordable EVs and today’s announcement from the Chancellor goes a long way to ensuring that uptake continues. Our industry has worked closely with Government departments and it has been great to hear that the Chancellor said that they have listened and now confirmed the current low Benefit in Kind tax until 2025 with a rise of 1% annually thereafter until 2028. We applaud the chancellor’s decision to offer motorists a clarity on the position of the Government on supporting EV drivers.”
“Our research published this week proves that the government’s tax incentives for EV motorists have been the main driver in allowing mass market drivers to access EVs and that without them, the UK will not meet its targets for 2030. With these incentives protected for a further six years, we can move forward in helping to transform the UK’s roads as we move towards an emission-free future.”
Gilshan added “Today’s statement is crucial for ensuring that motorists continue to be incentivised to step away from petrol and diesel vehicles and into greener, sustainable models instead. Our data shows that the total cost of ownership for EVs is notably lower than that of petrol and diesel vehicles, meaning that motorists struggling with the current cost rises continue to be offered a clear advantage in driving a zero-emission vehicle.”