Efficient car.
But is it Tax efficient?
Car choice effects the planet, and your business.
In recent years, there has been a growing focus on environmental sustainability. This has led to an increase in the demand for Green Cars. Companies that purchase environmentally friendly cars can benefit from a number of advantages.
Lower tax liability. Companies can claim capital allowances on the purchase of new electric vehicles, which can significantly reduce their tax liability. This is because the UK government offers tax breaks to companies that invest in environmentally friendly technology.
Reduced running costs. Electric vehicles are much cheaper to run than petrol or diesel cars, as they do not require fuel and have lower rates of road tax. This can save companies a significant amount of money on their annual running costs.
Improved employee morale. Employees who drive Green Cars are often more motivated and productive. This is because they feel good about doing their bit for the environment, and they also appreciate the financial benefits of driving an electric vehicle. For example, a study by the University of Warwick found that employees who drove electric cars were more likely to be satisfied with their jobs and less likely to take sick leave.
Enhanced corporate social responsibility (CSR) credentials. Companies that invest in Green Cars can improve their CSR credentials. This can make them more attractive to customers and investors, and it can also help them to attract and retain top talent. For example, a study by the Reputation Institute found that companies with strong CSR credentials are more likely to be seen as trustworthy and ethical by customers and investors.