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Marshall Motor Holdings Plc

Electric cars make sense with new tax rates

Company car drivers will be able to make substantial savings by switching to a zero-emission vehicle before new company car tax rates take effect in April 2020, an analysis by automotive experts at Deloitte has concluded.

The Benefit-in-Kind tax due on a zero-emission vehicle will drop from 16% to zero.

Consequently, a higher rate (40%) taxpayer driving a diesel hatchback with a £30,000 list price would currently pay just over £18,000 in tax and fuel costs over a 48-month period.But the cost for a comparable all-electric vehicle would be just £916.

Marshall Motor Holdings Plc (LON:MMH), together with its subsidiaries, engages in retailing passenger cars and commercial vehicles in the United Kingdom. It sells new and used vehicles; and provides after sales services, such as servicing, body shop repairs, and parts sales.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.