Business EV company car fact you might not know.

[DSLiverpool]

If you purchase a EV as a company Car claiming back the Corp tax in year one and you purchase it on a PCP which you are allowed to do, when you return return it if you just give it back to the dealer, the income into your business is seen as the guaranteed future value of the car not what is actual worth which may be considerably lower.

It took me awhile to find that out accurately, so I m sharing it.

[Ean218]

That sounds correct, the finance deal and associated payments will all have been based on that same guaranteed figure,

[jrinns]

I read that you had to be committed to purchase the car with no option of giving it back. So Hire purchase with a balloon...

As this seems like the best of both worlds, get AIA year one , car depreciates (alot) , so you return it....