Benefits of workplace charging

EV charging can have a hugely positive impact on your business, bringing benefits to both you, your employees and the environment. Genfit install electric car charging points for businesses all over the UK and are passionate about driving the future forward. If you are interested in installing charging points and improving the sustainability of your business, here are a few benefits to consider:

Cost savings

One of the biggest benefits of workplace EV charging is the saving on running costs. An electric vehicle is much cheaper to run compared to a standard internal combustion vehicle, helping you to manage a more cost-effective business fleet.

Employee retention

Introducing workplace EV charging stations is a cost-effective way to retain and actively support your employees, encouraging a sustainable ethos throughout your business. Employees can save money on petrol or diesel costs, simply by switching to electric and having access to charging facilities at work.

Environmental benefit

Implementing electric vehicles and workplace charging can assist your business to achieve your environmental targets. Your business can dramatically reduce CO² emissions and the amount of carbon tax paid on those emissions. In addition, your business is communicating a clear message to customers and the community of your commitment to contributing to a more eco-friendly and sustainable future.

Company cars

Employees that purchase a company car can also benefit from as low as 0% benefit-in-kind tax for a fully electric vehicle, as opposed to 20% for a typical petrol or diesel car.

Tax advantages for a sustainable business fleet

Purchasing electric vehicles in your fleet makes your business eligible for ‘Enhanced Capital Allowances’. This significantly increases the amount of allowance you can write down against taxable profits each year. Companies planning to purchase rather than lease their fleet can benefit from a 100% first-year allowance (FYA) which is currently in place for the 2020/21 tax year. https://www.gov.uk/capital-allowances/business-cars

From 6 April 2020 until 5 April 2021, full battery electric vehicles (BEVs) will qualify for 0% Benefit in Kind rate. This compares to 37% at the opposite end of the emissions scale. https://www.gov.uk/government/publications/personal-tax-changes-to-bands-for-ultra-low-emission-vehicles-in-company-car-tax/personal-tax-changes-to-bands-for-ultra-low-emission-vehicles-in-company-car-tax

This 0% rate also applies to company car drivers in pure electric vehicles registered prior to April 6, 2020. Additionally, the 0% rate will also apply to company cars registered after April 6, 2020, with emissions from 1-50g/km and which have an electric mile range of 130 miles or more. Both will increase to 1% in 2021/22 and 2% in 2022/23.

Running a low or zero-emissions car will be significantly more desirable for company car drivers for the next three years at least, due to these changes with higher-emission cars likely to become costlier to run. 

The BIK rate for new cars that don’t produce any CO2 – in other words, all fully electric cars – will drop drastically from the current 16% to zero. On an electric Renault Zoe small hatchback, that equates to a £1023 saving in BIK tax for someone in the 20% tax bracket and £2046 for a 40% taxpayer.

Genfit offer a range of commercial and residential EV charging solutions, which combined with the latest PV solar and battery storage technologies will charge electric vehicles directly from the power of the sun, maximising their solar usage and further reducing electricity bills. We can also assist you with claiming grants through the Workplace Charging Scheme and Home Charging Scheme which offers up to £350 per chargepoint towards the purchase and installation cost. https://www.gov.uk/government/news/update-on-the-infrastructure-grants-schemes

Whether you own an EV now or just want to be EV-ready, get ready to drive into the future with Genfit.

Incentive programs are offered and administered by government agencies. Eligibility and availability is outside of Genfit’s control. 

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