Tax relief on Electric Van

Discussion in 'Car and Van Talk' started by JT101, Apr 22, 2022.

  1. JT101

    JT101 New Member

    Hi

    I am going to get myself an electric van. So many reasons to do it right now.

    But I need to know what is the best option for tax relief in this current tax year, as i know the rules have changed. Here are my two options as I understand it. Both of which are based over a 3yr period:

    Option 1: Buy a very good condition used van for £11500. Question: Can i claim this in one lump sum, or is it staged, and can I also claim 45p per mile relief? I do approx 7000 business miles per year, so £3150 * 3. So does that mean I can claim relief on £11500 + (3 x £3150) = £20950

    Option 2: PCP deal, whereby I stump up a deposit upfront (say £10k), and then make 40 monthly payments of £414. So approx £26560 in total + same mileage as above. £9450 + £26560 = £36010.

    So if I am understanding this correctly, it would be much better financially for me to Personal Contract Purchase a new van?

    Thanks
     
  2. CraigMcK

    CraigMcK Screwfix Select

    Not going to comment about finance, but please make sure you have seen the real world reviews before going down that route. They seem to be terrible.
    Fifth gear recharge did one


    Also Artisan Electrical
     

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