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Electric Car Tax Service launched by Alexander Knight & Co Accountants

electric car tax guide accountants uk

We are really proud to launch a new service for our clients as we continue to innovate in the accountancy marketplace.

Rising demand for electric cars amongst our business owner client base – coupled with new tax breaks means we have launched the UK’s first dedicated electric car tax accountancy service.

Our new electric car service is perfectly timed as increasing numbers of our clients enjoy the generous tax breaks offered to company owners who use electric vehicles on the road.

From 6 April 2020 company car owners will pay zero benefit-in-kind on certain fully-electric vehicles, compared to as much as 37 percent on vehicles with high CO2 emissions.

Electric Car Tax Savings

As a result of this premium electric vehicles could save business owners £1000s – compared to traditional vehicles – as the new regime kicks in.

The launch of new luxury models such as the Mercedes-Benz EQC, Audi E-Tron, together with Porsche and Range Rover hybrid vehicles follow the success of the Tesla Model 3 which is already considered to be a cult company car for British sales executives

Company cars have been deeply unfashionable for more than a decade now. In that time, most business owners have understood that they were better off buying a car personally and then claiming the associated expenses.

Electric cars are a game changer for the humble company car. The new tax breaks laid out by the Government have reversed this trend and we predict there will be an upward swing in demand for electric vehicles, not least from business owners but also socially responsible fleet managers in the business world.

murray patt electric car tax accountant

Murray Patt of Alexander Knight & Co charges up his own electric car.

Huge tax savings

One client of ours saw more than £10,000 knocked off his tax bill because he plumped for the Range Rover hybrid model over the diesel version.

With these tax breaks about to kick in, more e-charging points being installed across the country, improvements to the range of electric engines and a steady fall in the price we are predicting a renaissance of the company car.

Consideration needs to be given to purchasing a hybrid model. Although they still offer a great tax break under this new rule, it’s not zero percent as with fully-electric vehicles. Another issue to think about is that hybrids now feature in the Government’s hit list for cars that will be banned from 2035 – we’d really advise going for that pure electric model.

Get your FREE electric car tax guide:

 

Watch our video about electric car tax breaks for company directors:

If you are a business owner and you want to get a tax-free electric car – speak to us first and we will help you. Call us on 0161 980 8788 or email cars@alexanderknightaccountants.co.uk  

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Let us help you PR your business

manchester pr company logo

We have teamed up with our Manchester based PR agency, Sugar PR, to offer exclusive media profiles of your business in key media titles. We are always keen to add more value to our services and we think we’re the only accountants in Manchester who extend the skills of our public relations team as well as our tax, audit and management accountant services.

Recently, we helped our client Aquavision raise its profile by placing this brilliant article in the Manchester Evening News. We even made this cool video which helps them to tell their success story. Another client of ours launched a new, innovative product and we were only too pleased to lend a hand in getting it ‘out there’ to create some media buzz.

We’re proud of your success stories and we want to help you shout about it.

If you want to be featured in our next client profile and get some supportive PR and media profile – please let Murray know and we’ll take care of the rest.

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WATCH: A coffee and a chat with Aquavision

In the first of our series of ‘A coffee and a chat with…’ we went to sunny Stockport to see our client Aquavision which is gearing up for growth in 2018 thanks to a flow of international orders.

Aquavision, the Stockport-based manufacturer of waterproof televisions is gearing for growth as international orders boom.

Aquavision manufactures in-wall and waterproof televisions which are being snapped up by luxury hotels and high-net worth individuals.

The business is now the UK’s market leader in the niche, grew revenues by twenty per cent last year, and has developed a vast network of professional partners worldwide.

Alastair Benn started the business from humble beginnings in his own garage.

Soon after making the world’s first waterproof television, he won his first order for a hotel project, the business boomed and he quickly had his entire family assisting him in boxing and dispatching the televisions.

Now operating from 10,000 sq. ft. premises and employing twenty people, the business exports 50 per cent of its sales to almost every country in the world. Aquavision serves four core markets: bathrooms, custom integrations, maritime and hotels.

Products range from 16” to the massive 85” screens manufactured onsite by a team of specialists. The hardware and software in the televisions integrates with all major manufacturers and the business is successfully developing a partnership with top-end audio brand Bang & Olufsen.

Alastair Benn, Managing Director of Aquavision, said:

“Waterproof televisions are in high demand across the world which is reflected in the fact that fifty per cent of our orders come from overseas. I’m passionate about producing high quality, luxury televisions.

“From day one, we’ve never compromised on quality and this is why we remain the number one British manufacturer of in-wall and waterproof televisions. We work hard at maintaining our reputation and we’re proud of the work we’re doing here.”

“We’ve not been affected at all by the Brexit decision or the recent General Election. We’re still growing, we’ve got an international outlook to business and we’re certain our European and worldwide partners will continue to do business with us as long as we maintain our innovation and customer service.

“The exchange rate has been great for our export market and we see no reason why any business which strives for innovation and has a global outlook can’t succeed. We’re proud to be creating new jobs and we’re dedicated to being based in Greater Manchester as we target revenues of £5m within the next eighteen months.”

Alexander Knight & Co is very pleased to be advising the Stockport-based firm.

Aquavision is a wonderful example of a successful British family-owned entrepreneurial company pushing the boundaries of what is possible in a fast-moving industry. We’re pleased to be working with the management team, advising them on tax strategy, growth and the business plan for the UK and international markets.

Stockport is one of those areas of Greater Manchester that seems to have increasingly more entrepreneurs springing up, re-locating and seeking professional advisers.

Investment into the borough has been considerable and there is a business culture developing there largely as a result of the successful implantation of an economic development strategy supported by Stockport MBC.