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Why you should drive a Tesla to work

Why you should drive a Tesla to work
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Three turbo-charged reasons you should drive a Tesla

What car you should drive as a successful businessman or woman is a decision fraught with nuance - should we decide on power, status, cost-effectiveness, or comfort? New Government regulations are now in force to try incentivise investing in a green car – not olive, lime, or even teal – but those with low CO2 emissions.

Matt Williams, Critchleys’ Business Team Partner, is here to spell out three compelling reasons why the Tesla* should be on your shopping list.

1) Reduced rates of tax

If you have a car that is either 100 per cent electric, a petrol hybrid, or even the much rarer diesel hybrid, the rates of tax that you pay are far less than those of a conventional petrol or diesel car. It could be as little as seven per cent for an electric car, compared with up to 24 per cent for a diesel option.

2) Cashback from the Government

If you buy a zero-emissions car outright, there is a significant incentive because of the 100 per cent capital allowances. On the basic Tesla Model S, which costs just over £60,000, that means almost £13,500 off the list price back in year one.

3) Cleaner air

This is a great way to appeal to your inner environmental activist. The BMW 320D has CO2 emissions of about 110g/km, compared to the 320E, the electric version, which has emissions of about 44g/km. Not only are you making financial sense, you are reducing the impact of your car on global warming.

Of course, not everyone wants to go down the ‘green route’ but most people are interested in saving money.

The surprising things is that you can also claim for a large Twin Cab pick-up – the kind which has three seats across the back as well as the pick-up – because it is classed as a van and is not covered by the CO2-based emissions. That means you get 20 per cent off the list price straight away and 20 per cent corporation tax saving in one year.

* Not literally the Tesla every time. At £60,000+ you may want to look at other ‘green’ cars.

Find out more about Matt Williams

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Matt Williams

Matt Williams

Matt is Head of Business Accounts.
He enjoys working with business start-ups and helping ambitious businesses grow.

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