Unfortunately the Benefit in Kind Tax exemption does not apply to hybrid cars or vans. Today, with a lightweight, compact, large-capacity Lithium-ion battery, it's taking you further than ever before. It appears JavaScript is disabled. Increased use of electric cars will help reduce the consumption of other fuels such as petrol and gasoline. That’s a big deal, since the average American spends between $2,000 and $4,000 on gas every year. Just like gas powered cars, you have to recharge your electric … Examples include vouchers, holidays, payment of an employee's bills and prizes. ... Of course, there are other benefits, not least the fact that the electric motor is powerful enough to drive the car by itself, so you can drive for short bursts on just electric power around town, dramatically reducing your urban fuel consumption and emissions rating. As EVs become more mainstream, the costs  are dropping rapidly and there are a wide variety of benefits for drivers making the switch. While electric cars do, indeed, have their downsides, there are also considerable benefits to owning one. If you want to make the switch to electric but are worried about range, check out these electric cars on sale now in Ireland with the longest range. Electric cars: the benefits Zero emissions. Electric cars with the longest range. The biggest benefit of electric cars is obvious: You no longer need gas. 6 Benefits of Electric Cars. Check out our charging calculator which shows exactly how long a wide range of EVs take to charge. Your business could get 20 per cent (up to £8,000) off the cost of buying an electric van. Grant for electric vans. Discover the top ten benefits here. Learn more about how much cheaper it is to run and maintain as well as the environmental and health benefits buying an electric car brings. Enjoying the quiet comfort of an electric vehicle isn't just great for your pocket, it's great for the environment too. The benefits of owning an EV arguably outweigh any cons — from spending less money in the long run to making fewer trips to the repair shop. Electric cars represent a cleaner, greener way to use everyday transport. Our objective is to be a positive and effective partner for each of our stakeholders, our staff, our customers, the communities in which we operate and for our environment. The motor tax for a Battery Electric Vehicle Motor Tax costs €120 per year with Plug-In Hybrid Motor Tax typically €170 per year. Fully electric cars have zero tailpipe emissions making them greener, cleaner and better for the environment than petrol or diesel cars. The 0% benefit-in-kind rate for electric vehicles with a market value of less than €50,000, has been extended to December 2022. From April 6th 2020, business users can also pay zero Benefit In Kind (BIK) company car tax on pure electric cars and the PICG still applies to company cars. ESB is a business built on the strength of its people. From 1 January 2020 to 31 December 2020 electric cars and vans are exempt from Benefit in Kind Tax. Proven track record of insuring electric cars in Ireland. 6 Benefits of Electric Cars. Electric cars will incur no benefit-in-kind tax for the 2020-21 tax year. For example, in the current tax year, 2018-19, electric or hybrid company cars that emit 50g/km of CO2 attract a BIK scale charge of 13% of the vehicle’s P11D value. From the environmental impact to the savings you can make on fuel, tax and maintenance costs, electric vehicles could help you save significant amounts of money. Benefits of electric vehicles. Planning ahead. Specialist electric car breakdown assistance. A Plug-in hybrid pairs a small battery and electric motor, with a typical range of around 30 miles, with a fuel-efficient petrol or diesel engine. The aim is to ensure that all new cars and vans on Irish roads in 11 years' time are electric vehicles. The biggest benefit of electric cars is obvious: You no longer need gas. And it doesn’t stop there. A compact, all-weather home charging unit can be outside your home and you’ll be eligible for a £350 government grant to cover installation. There are three main types of electric vehicles: pure electric, plug-in hybrid, and hybrid. With fully electric cars such as the Nissan Leaf, that cost is eliminated — though electricity isn’t free. SEAI is offering grants of up to €5,000 for a Battery Electric Vehicle (BEV) or a Plug-in Hybrid Electric Vehicle (PHEV) purchased and registered in Ireland. Using a 7kW home charging port, most EVs can charge to full capacity in around 8 – 12hours so your car will be ready to go when you are. While electric cars do, indeed, have their downsides, there are also considerable benefits to owning one. The tax rules for ultra low emission company cars are set to change from 6 April 2020 making the purchase of an electric … Toll discounts have been announced to begin in 2018 and is available to the first 50,000 electric vehicles with an electronic tag and this scheme will run until 2022. Most mainstream electric cars will do around 100 miles between charges, so if you want to do a long journey, you’ll have to do a lot of planning. Replacement car: In the event of an accident, we will provide a free replacement car (an electric car where possible) for up to 10 days. 8 – Kia E-Niro – 72 units – new comer for 2019. However, they have also proven to have many more benefits to society. Hybrid & electric cars ireland – what’s the difference? An electric car is a car which is propelled by one or more electric motors, using energy stored in rechargeable batteries.Compared to internal combustion engine (ICE) vehicles, electric cars are quieter, have no exhaust emissions, and lower emissions overall. 1. Choose from a wide range of the UK’s best electric cars and find the car that’s right for you. Like traditional petrol and diesel vehicles, the cost of buying an electric car varies depending on make, model, features and type. SIMI in its 2018 Budget Submission to Government pressed the case for some additional, low cost incentives for Electric and Hybrid cars to support migration toward alternative fuelled vehicles while we underlined the importance of cleaner diesel cars to rural Ireland also along with no further burdens placed on the motorist. Electric and hybrid vehicles can be found from many of our 18 manufacturers across our eight sites in Northern Ireland. The big attraction of an EV is the fact you are doing mile after mile of emissions-free driving. Electric vehicles emit zero tailpipe greenhouse gas emissions thereby helping to improve air quality in our towns and cities. There are currently around 2,000 of these vehicles on the roads in Northern Ireland. The table below shows the percentage BiK rates, depending on vehicle CO 2 emissions from conventional fuel (only >0 for plug-in hybrid electric cars) and using WLTP figures. Collectively these vehicles are known as Ultra Low Emission Vehicles or ULEVs. We at Zurich established ourselves as an electric car pioneer when we launched the world’s first customised electric car motor insurance proposition in Ireland in 2011. Plug-in hybrids driven in electric mode emit zero tailpipe emissions and the electric range is well within the average UK daily distance driven of 30 miles. Your business could get 35 per cent (up to £3,500) off the price of an electric car. Electric cars are predicted to be the next disruptive market force for transportation and technology. They’re easier on the environment. ESB’s position as Ireland’s leading energy utility, its stable business profile and its solid financial position ensures it is well positioned to meet the challenges that lie ahead and to support its strategic ambition to lead the transition to reliable, affordable low-carbon energy for the benefit of its customers. Batteries in EVs are often found in the floor of the car, which provides  excellent balance and weight distribution. Everything you need to know about using the ESB public charging network. At the start of 2018, electric cars were relatively new to the automotive industry, but there's no denying they're increasing in popularity – as our survey of British motorists has shown.And despite their relative newness, industry insiders believed that by the end of 2018 there would be around 200,000 electric cars on the roads. Electric vehicles emit zero tailpipe greenhouse gas emissions thereby helping to improve air quality in our towns and cities. All this means you’ll rarely have to have your EV serviced and the running and repair costs are minimal. 9. Fully electric cars have zero tailpipe emissions making them greener, cleaner and better for the environment than petrol or diesel cars. Because of the tax benefits of electric and hybrid cars this means Tom and the company can potentially save tax and National Insurance of £10,103 overall. EVs are often more digitally connected than conventional vehicles, with many EV charging stations providing the option to control charging from a smartphone app. Electric cars are going mainstream. Sales of Electric Cars. Home » Electric Vehicle Benefits. Passing these extreme tests means that you can count on it at all times. Benefits and downsides of owning an electric or hybrid car; Advice Benefits and downsides of owning an electric or hybrid car. A Plug-in hybrid pairs a small battery and electric motor, with a typical range of around 30 miles, with a fuel-efficient petrol or diesel engine. Hyundai Ioniq Electric. 2018 Exemption. Electric company car drivers are to get a tax break under new measures announced this afternoon by the Minister for Finance. In regions with a strong grid mix of renewables—such as hydro, wind, and solar—or for electric car drivers with home solar, the emissions benefits are dramatic. SEAI is offering grants of up to €5,000 for a Battery Electric Vehicle (BEV) or a Plug-in Hybrid Electric Vehicle (PHEV) purchased and registered in Ireland. Find your nearest charge point with the interactive map, Find local incentives in your area using the interactive map, Find out how easy and how little it costs to charge at home, Find out just how far an electric vehicle can travel. Introduction. 1. This electric car tax relief is potentially a big saving for employees, making them more likely to choose an electric vehicle as a company car. Electric cars are manufactured using recyclable materials. Certain BIK exemptions and discounts are available where the car made available to your employee is an electric car. Last updated 8/7/2019 There are many reasons to make your next vehicle purchase an electric car. Isn’t that how driving should be? All signs are pointing to electric cars being the future, but hybrids are the more practical option for many of us. Discounted electric car motor insurance. Electric cars could reap benefits from new green number plates Chinese Nio ET7 electric family car costing £60,000 Lord Blunkett 'never envisaged' disabled Child Trust Fund issues The benefit in kind value on a £20,000 electric car in 2020/21 will only be £400, costing a higher rate taxpayer £160 in tax – considerably less than the £880 payable in 2018/19. The following is a summary of the main benefits that an employee may get and the rules the Revenue Commissioners apply. The electricity to charge an EV works out around a third as much per kilometre as buying petrol for the same vehicle1.There are a number of handy calculators you can use to see the savings. Check out the Fuel Cost Savings Calculator on the My Electric Car website. As a strong, diversified, vertically integrated utility, ESB operates right across the electricity market: from generation, through transmission and distribution to supply. Here are the top three benefits of electric vehicles. Why choose us? These benefits include: • €5000 SEAI plug-in grant for personal purchase • Lowest VRT tax band (7%) • Low annual road tax of €120 Electric cars and vans. Electric vehicles emit zero tailpipe greenhouse gas emissions thereby helping to improve air quality in our towns and cities. With our AA- financial strength and our experience insuring electric cars, we bring you superior electric car insurance protection, specialist electric car breakdown assistance and an excellent claims service. It’s a big ask. Less emissions mean reduced greenhouse gasses, enabling the UK to move towards sustainable, renewable sources of electricity. Electric vehicles offer many benefits, but they also have some disadvantages when compared to conventional gasoline-powered cars.One of the biggest questions prospective electric car buyers face is whether to purchase an all-electric vehicle (AEV), plug-in hybrid electric vehicle (PHEV), or a gasoline-powered car. Apparently, we have but a few years before all we can buy will be electric cars. The National Framework on alternative fuels forecasts a total of 20,000 passenger EV's on our roads by the end of 2020. For more information, see valuation of benefits. Grant for electric cars. All electric cars have instant torque , which means you’ll always have power right at your fingertips. Benefits of driving an electric vehicle. Kia E-Soul. With so many benefits for both the environment and your pocket, driving an electric car makes so much sense. Fueling with electricity offers some advantages not available in conventional internal combustion engine vehicles. In Ireland, for those that do have an EV, there is a grant from the Sustainable Energy Authority of Ireland that could provide you with up to €5,000. From tax incentives and special government grants to enhanced fuel efficiency, the lower cost of electricity and reduced maintenance requirements, you could spend far less on an electric vehicle than you do on your current car. There are currently 10,000 Electric Vehicles on the road in Ireland. 3. That’s a big deal, since the average American spends between $2,000 and $4,000 on gas every year. They Aren’t Mainstream While a lot of people will hear that something isn’t mainstream and instantly want it that much more, the case is very different with electric cars. There are other great cost saving benefits as well; to learn more about the costs of driving an electric car please visit our dedicated guide here. This section will not apply. Enjoying the quiet comfort of an electric vehicle isn't just great for your pocket, it's great for the environment too. Hide. On a cost per mile basis a fully electric car could cost you a quarter or less of what a traditional petrol or diesel car might. By 2030, it wants one million electric cars on Irish roads. Zip through traffic and glide across town in a comfortable, clean and quiet car. As the first dealer group to introduce the fully Electric Vehicle to the Northern Ireland market, the Donnelly Group is committed to supporting the development of future clean air technologies within the motor industry. The top ten best selling electric cars in Ireland in 2019 along with the benefits to making the switch. Depending on your electricity deal at home and how efficient your electric car is, you can drive from 2-5p a mile. Get a car inusrance quote on 0818 25 20 25. Electric cars are set to be “the new normal”, according to SEAI’s Jim Gannon. Rapid chargers can speed up the process even more, charging most cars to about 80% in under an hour. Fully electric cars are designed to be as efficient as possible and there are generally 3 main components powering the vehicle; the on-board charger, inverter and motor. Electric cars can form part of your fleet or be a company car option. While the price of an EV may be similar to most comparable petrol or diesel cars, the cost of running one is significantly cheaper particularly over the full lifetime of the vehicle. They’re easier on the environment. Read more about the benefits of owning an electric, hybrid or plug-in hybrid car in Northern Ireland. We are proactively embedding new safety, sustainability, people development and corporate responsibility strategies within our operations. Cheaper to run. Electric vehicles offer many benefits, but they also have some disadvantages when compared to conventional gasoline-powered cars.One of the biggest questions prospective electric car buyers face is whether to purchase an all-electric vehicle (AEV), plug-in hybrid electric vehicle (PHEV), or a gasoline-powered car. ACA Tax Saving Examples. There is an EV to suit almost every  budget and our car selector tool is designed to help you find your perfect car quickly and easily. 1. By continuing to use this website, you consent to the use of cookies in accordance with our, Science Week - Curiosity Box competition T&Cs, Preserving Ireland's Heritage and Environment, ESB Health & Safety Policies and Performance, Benefits of driving an ecar infographic (PDF | 3.45 MB). Advantages of electric cars – top benefits of EVs. A four-bay SemaConnect charging station is located in the parking lot behind 2100 Chester Ave. A new study details the likely economic benefits of encouraging greater use of electric … With exciting new technologies currently being developed, which promise to cut charging times to minutes, extend range significantly and further enhance safety and automation features, there has never been a better time to switch to driving an EV. They have the potential to revolutionize how energy is used, created and redirected. This means there is far less wear and tear on the car and little stress on the motor, with fewer moving parts susceptible to damage. Are electric cars tax-deductible in the UK? Click on your store to download the ecar connect app. Once installed, you’ll be able to charge your EV  by simply plugging in the charging cable when you’ve parked up. Owners of an EV have the advantage of much lower running costs. Fueling with electricity offers some advantages not available in conventional internal combustion engine vehicles. Lower fuel costs, environmental stewardship, and energy independence are all compelling reasons to go electric with your next car. Reduced fuel consumption. These savings quickly add up, see how much you could save on each journey when driving an EV by using our special Journey Cost Calculator below. The benefits of owning an EV arguably outweigh any cons — from spending less money in the long run to making fewer trips to the repair shop. The Disadvantages of Electric Cars. Ireland and the question remains – why? ACA - Ltd Company EV Benefits Explained The following example compares a Ltd company purchasing a Electric Vehicle and a conventional fossil fuel vehicle of similar size, both with a R.R.P of €28,000 Electric car benefit-in-kind (BIK) tax treatment is significantly more beneficial than that for conventional engined cars, especially diesels. The following outlines the number of benefits EV's offer to drivers, businesses and society. “These Plug-in electric vehicles (also known as electric cars or EVs) are connected, fun, and practical. Running costs Although electric vehicles are more expensive to buy, they have significantly lower running costs when compared to petrol or diesel equivalents. An electric car offers lots of advantages for business, from simple running and maintenance costs to tax benefits. It’s as easy as charging your mobile phone. W ith the accelerating drive for cleaner, energy-efficient cars, here are 10 reasons why hybrids are increasingly the go-to choice for buyers.. 1 Hybrids are less polluting. An employee may receive a taxable benefit in connection with their personal electric car if their employer: Pays for a vehicle charging point to be installed at the employee’s home. This means  handling around corners and curves is effortless and reliable. To get the most out of the website we recommend enabling JavaScript in your browser. Nearly all credible researchers believe that electric cars, even in coal-dependent regions, have a smaller environmental impact than conventional vehicles. According to the head of ecars at ESB, Gareth Davis, currently there are over 4,500 battery electric vehicles (BEVs) and PHEVs (plug-in “hybrid” electric vehicles) on the island of Ireland. Why aren’t more electric cars being sold despite all the ‘benefits’? And it doesn’t stop there. Electric cars are not really “zero-emission” – but they are more environmentally friendly than petrol or diesel cars and will become more so as the generation of electricity from renewable sources increases to the government target of 40%. By continuing to use this website, you consent to the use of cookies in accordance with our Cookies Policy. The open market of the car must be less than €50,000 or first used by the employee between 10th October 2017 and 9th October 2018. If you pay an allowance to an employee to allow them to purchase a car, this will be taxable salary. Benefits of driving an electric vehicle. Provides a charge card to allow access to commercial or local authority vehicle charging points. There are a number of great benefits to electric vehicles (EVs) over conventional petrol/diesel cars. This equates on average to ~£1,000 a year in fuel savings by driving electric. Pays to lease a … Electric cars have increasingly been making the headlines in recent months. This isn’t the case for all electric vehicles; however many of the newest models have interior parts made from recyclable materials, such as the seats, door trim panels and dash. Electric company car drivers are to get a tax break under new measures announced this afternoon by the Minister for Finance. Realistically, we’d need everyone to switch to electric cars to see a reduction in CO2 levels and while this may be doable in the future, it’s unlikely to happen now. Financial Benefits of Zero Emissions Vehicles. Join the electric vehicle revolution, find your perfect EV with our special car selector tool today. Hybrid cars do not qualify as electric cars. EVs offer outstanding value over the long term and can be an excellent investment for drivers looking for a cheaper, more efficient way to get around. Electric cars are one solution to the negative environmental impact of conventional cars. Enjoying the quiet comfort of an electric vehicle isn't just great for your pocket, it's great for the environment too. The Irish Times guide to new electric cars for 2020 and 2021 From the Audi e-Tron to Volvo XC40 P8, via Nissan and Tesla, we rate a full 36 models Wed, Jul 1, 2020, 07:00 This is achieved not only through the provision of critical energy infrastructure, but also through ESB's contribution to the economy in the form of investment, taxes, dividends and jobs. Charging your EV at home is cost efficient, simple and fast. You may have made an electric car available to your employee for private use during 2018. The table represents electric, petrol and diesel related BiK rates. Cheaper to run, fewer fuel stops and being more responsive are just a few of the advantages of owning a hybrid car. Sales of new EVs doubled in 2018 from the previous year and we predict sales will triple in 2019. Benefit in Kind (BiK) rates for cars registered after April 2020. Most benefits from employment that are provided in addition to your salary are subject to income tax. 1. Jun 1, 2017. With fully electric cars such as the Nissan Leaf, that cost is eliminated — though electricity isn’t free. 9 – Kia E-Soul – 62 units – Another new comer for 2019 as the previous version was not imported into Ireland. They can reduce emissions and even save you money. The electricity to charge an EV works out around a third as much per kilometre as buying petrol for the same vehicle 1. From improved air quality to reduced noise pollution, EVs offer many environmental benefits. The benefits of driving electric cars are clear. Employers looking to provide tax-efficient company cars in the future should consider electric cars and hybrid models with a good electric range. Electric Ireland can professionally install an electric vehicle home charger at your home and with the help of the SEAI grant it comes at a great price. The treatment applies to both new and used cars. With newer technology helping create even more environmentally friendly batteries, advances in hydrogen and even more efficient, quieter EV motors, the future of driving is bright and clean. You’ll also see a breakdown of electricity usage and cost so you know exactly how much you could save every time you charge your car. We choose the five best electric cars on sale in Ireland. If you transfer the car to your employee, general BIK rules shall apply. According to DoneDeal, 10% of all car searches in Ireland are now for electric and hybrid vehicles. But they also offer compelling financial incentives for business and personal purchasers. In comparison, a … Over the last 7 years, the reliability and durability of the New Nissan LEAF 100% electric have been rigorously tested in the most challenging conditions. As soon as you hit the accelerator you’ll get an instant response and surge of speed from the car, making these vehicles ideal for city driving. Next: How to calculate the taxable benefit (cash equivalent) You might have seen that major car manufacturer Volvo has announced that every car they launch from 2019 will have an electric motor, and that the current UK Government wants to see our roads free of petrol and diesel cars by 2040.. Electric vehicles, sometimes referred to as EVs, are set to be the norm but … Because electric motors react quickly, EVs are very responsive and have very good torque. The measures will see a zero rate of benefit … Benefits. Electric cars are cars that get their motive power from electricity only. One of the first things drivers notice when switching to an electric car is the quietness of the vehicle, which creates a far more comfortable, relaxing driving experience. Since ESB was established in 1927, it has always endeavoured to bring light and energy to the people it serves, allowing individuals and communities to fulfil their potential in every walk of life. Benefits (other than benefits-in-kind). Since the ICE vehicle is dominant on the roads, there are hundreds of types of petrol and diesel cars to choose from, while there are only about 10 varieties of electric car on sale in Ireland … Owners of an EV have the advantage of much lower running costs. Kia E-Niro. Here’s why electric vehicles really are the transport mode of the future.