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Peter Moroz looks at the tax complexities that arise when recharging an Electric Vehicle used for business travel The Advisory Electric Rate increased on 1 December 2021 from 4ppm for 5ppm for the reimbursement of business mileage. But reimbursement for business mileage is the tip of the iceberg when it comes to tax questions.
HMRC’s previous guidance said that, where an employer reimburses their employee for the cost of charging a company-owned, wholly electric car that is available for private use, the reimbursement was taxable as earnings. HMRC’s guidance has now been updated.
Sole proprietors or a partner in a partnership business with an electric vehicle can recover the VAT component on costs for charging electric vehicles at home, provided the electric vehicle is charged for business purposes only.
If an employee charges an electric vehicle (this can be a company or private vehicle) at a public charging point at their business location, the supply of electricity is made to the company or employer. This means the employer can recover the VAT on the cost of charging the electric vehicle, subject to the normal rules.
HMRC is reviewing the situation where an employee is reimbursed by the employer for the actual cost of electricity used in charging an electric vehicle at home for business purposes. We will update you on any changes as and when further guidance is made available.
In view of the above, it appears that neither the reimbursement for a home charge point, nor the reimbursement of the cost of electricity for the electric car should be taxable. Furthermore there should be no NIC due nor any P11D reporting requirements. This is regardless of whether there is any reimbursement by the employee of private mileage.
It now reflects the Tax Faculty''s view that no separate charge to tax arises under the benefits code where an employer reimburses an employee for the cost of electricity to …
Peter Moroz looks at the tax complexities that arise when recharging an Electric Vehicle used for business travel The Advisory Electric Rate increased on 1 December 2021 …
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