Our all-inclusive subscription package includes insurance, tax and delivery, so it’s very easy to manage. Plus, there are business and employee incentives which make subscription a savvy choice (learn more below.) Choose between business and private use, salary sacrifice, or business use only. Whichever way you subscribe and drive, enjoy flexibility, low hassle, and freedom from long-term commitments.
If you’re interested in an electric vehicle and want to take advantage of the low benefit-in-kind tax on electric vehicles*, we provide home and workplace charger support via our experienced partners, making it easy for you and your employees to make the transition to EV.
*(0% on a zero-emission vehicle in 2021/22)
Uncompromised capability, low tailpipe emissions, reduced running costs and significant tax savings are just some of the ways our plug-in hybrid performance can recharge the way you work.
(Business Funded)
If in addition to business use you would also like the car to be used for personal journeys, then the government will tax it as a benefit in kind (BiK). This additional tax can make a business subscription expensive for high-emission petrol or diesel internal combustion engine (ICE) vehicles. However, with the I-PACE electric vehicle, the net costs for you and your employee can still be up to 25% lower than our listed prices after you account for VAT and corporation tax savings. Our PHEV models also work well in this scenario.
Salary sacrifice allows employees to give up a proportion of their gross salary in exchange for a benefit provided by their employer – in this case, a company car. So if an employee sacrifices their salary to cover the full cost of an I-PACE subscription, then the net cost to them can be up to 50% lower than our listed prices at no cost to the business. This is the option that gives the biggest potential savings – the business saves on VAT and corporation tax (and can pass this onto the employee). The employee saves on national insurance and income tax. It’s a win-win.
Subscription is like a short-term contract hire so all the same tax rules apply. You’ll be able to reclaim VAT and also offset the monthly payments against your profits to reduce your corporation tax bill. This can result in a net cost that is 33% lower than our listed prices after you account for VAT and corporation tax savings. Our plug-in hybrid and fully electric options give the biggest savings, but you can still save substantially if you choose an ICE vehicle.