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Electric car charging points subsidy to be extended to 2023

Finance, Economy

The UK government is to continue offering subsidies for businesses that invest in electric vehicle charging points until March 2023. Companies that install charging stations benefit from a first-year tax allowance of up to 100% of the cost of the equipment. Also in the Budget, the government also revealed it will review the impact of WLTP on Vehicle Excise Duty (VED) and company car tax (CCT), reporting its findings in spring 2019. The British Vehicle Rental and Leasing Association (BVRLA) welcomed the government’s review into WLTP’s impact on fleet, but added it was “dismayed” that the Budget made no reference to the early introduction of a subsidised 2% CCT rate for electric vehicles.

 

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