As we try to find comfort and positivity during the current Covid-19 pandemic, many have noted the positive impact the current lockdown has had on our environment. The University of York & Defra have found that some cities are experiencing as high as 50% reductions in air pollution.
On a big scale, reducing air pollution helps tackle climate change and encourages our wildlife to flourish. But as an employer, or employee, the positive impact on health and wellbeing in turn makes a stronger, happier workforce.
So as we look to coming out of the lockdown, how can we maintain the benefits of reduced air pollution? Do we want to return to our old ways? Or is this an opportunity to change how we live and work?
As a company and as an individual one of the biggest impacts on your carbon footprint is your chosen mode of transport. The Government’s Environmental Policy has set out ambitious plans to reduce carbon emissions and one area of focus is cars, providing excellent tax savings on electric vehicles from April 2020.
In March 2020 the Chancellor formally confirmed the Government’s decision that pure electric vehicles would pay 0% company car tax in the (current) tax year 2020/21, only rising by 1% every year thereafter. With no deposits or credit checks, and 0% Benefit in Kind, there are substantial savings compared to retail. A 20% tax payer taking an electric car could save almost £4k in BIK and £750 a year on fuel*.
You can implement a fully managed scheme at no cost with the potential to generate significant savings (just 75 electric vehicles could generate more than £340k of employer NI and pension savings*). Employees benefit from tax efficiencies, manufacturer discounts, no deposits and no credwoit checks, plus protection against a change in personal circumstance or life event. We work with Tusker who provide a fully compliant, fully managed implementation and ongoing scheme management for free.
If you’d like to learn more please contact our team.
*Data provided by Tusker April 2020.