Travelling in and around London is never easy at the best of times. If your business requires regular commutes in and around the city, there are financial considerations that you must consider.
Business car leasing is one of the most cost-effective methods of driving a brand-new vehicle at the best price.
London can also be one of the most affordable places to drive an electric car and there is a long list of benefits that come with choosing an EV in the capital.
Tax incentives for businesses
When you lease a vehicle through your business or Limited Company, you can claim back 100% of the VAT on your monthly rentals if the vehicle is used solely for business travel.
If it’s a vehicle that is used for both business and your personal life, there are still savings to be had, as you can claim back 50% of the VAT.
Additional charges associated with lease cars also have tax benefits, allowing you to claim back 100% of the VAT on things like excess mileage chargers, maintenance packages and offset 100% of them against your annual tax bill.
Once you combine the monthly savings your business can make, with the reduced running costs and cheaper maintenance costs, adding an EV to your fleet quickly becomes a shrewd piece of business.
No London driving chargers
Since 2019, London has introduced Ultra Low Emission Zones (ULEZ). Implementing emission-based charges for non-compliant vehicles travelling through the city.
In a bid to get London drivers out of old inefficient vehicles, the area has since been expanded to cover most of Greater London.
Driving an electric car in London means that you will be exempt from any Congestion Charge, as well as the ULEZ charges.
With Low Emission Zones, Ultra Low Emission Zones and Congestion Charges, there’s potential for a daily drive into London to cost in the region of £30 per day, depending on your vehicle. Their exemption from these charges is just one of the many money-saving benefits of driving an electric vehicle.
Best EV charging facilities in the country
The public charging network is expanding all the time, but London has always been at the forefront of the UK’s infrastructure.
London has the highest volume of EV charging stations across the entire UK. If you need to charge an EV in the UK, there isn’t a better place to be than London.
According to Zap Map, as of July 2023, Greater London accounted for 31.4% of the entire UK’s charging points.
That’s well over twice as many chargers as its nearest competitor, the South East of England, which registers 12.4%.
Fears of an inability to conveniently charge an EV are cited as one of the biggest barriers to entry for drivers looking to switch to electric, but with an abundance of chargers available in the city and the rise of workplace charging, those fears can be put to rest.
Refined driving experience
Beyond financial benefits, the refined and smooth driving experience is one of the biggest perks that come with driving an electric car.
From the instant torque to the agile handling, it could be argued that EVs are at their best in and around the city.
Thanks to their quieter nature, you won’t mind getting caught in the busy city traffic.
Improved brand perception
Position your business as a forward-thinking, eco-friendly organisation by introducing electric vehicles to your fleet operation.
Incorporating electric vehicles into your business operations is one of the quickest and most effective methods of publiclyaffirming your organisation’s green credentials.
Electric vehicles can also support your business in meeting its Corporate Social Responsibility targets.
In an age where consumers are increasingly aware of who they align themselves with, being brand aware has never been more important.
