Tesla Model 3

Cloudio9

cros13 wrote: »

There's no benefit on the BIK side but a new EV every year can be claimed under Accelerated Capital Allowances against corporate tax by the business.
.

I'll repeat. If the car is sold the capital allowances are clawed back so whoever came up with this tax idea hasn't a bog about tax.

e.g. Year 1: 171 Car bought 100k
Tax deduction claimed 24k

Year 2: 171 Car sold for 80k
181 car bought for 100k
Tax deduction claimed 4.8k (24k - 19.2k claw back)


Edit: It appears that the cap allowance is capped at 24k. Figures updated above based on limit.

josip

Cloudio9 wrote: »

I'll repeat. If the car is sold the capital allowances are clawed back so whoever came up with this tax idea hasn't a bog about tax.

e.g. Year 1: 171 Car bought 100k
Tax deduction claimed 100k

Year 2: 171 Car sold for 80k
181 car bought for 100k
Tax deduction claimed 20k (100k - 80k claw back)

What would happen if the car was sold on at less than the market value?

Cloudio9

josip wrote: »

What would happen if the car was sold on at less than the market value?

The clawback will be whatever it's sold for, but company directors would need to be careful of selling assets at less than market value as that would potentially be a breach of their legal responsibilities as directors.

Not sure what your line of thinking is but if they were to "sell it" to a family member for a nominal amount that would not fly.

KCross

Cloudio9 wrote: »

I'll repeat. If the car is sold the capital allowances are clawed back so whoever came up with this tax idea hasn't a bog about tax.

e.g. Year 1: 171 Car bought 100k
Tax deduction claimed 24k

Year 2: 171 Car sold for 80k
181 car bought for 100k
Tax deduction claimed 4.8k (24k - 19.2k claw back)


Edit: It appears that the cap allowance is capped at 24k. Figures updated above based on limit.

Can you explain the clawback? Is it in the T&C's of the accelerated capital allowances scheme that if you sell before 5 years you lose the benefit? That doesnt make sense to me... they might as well have left it at the allowance split out over 5yrs which it has always been.

Can you explain the clawback please?


EDIT: I guess you are talking about this section of the rules:

The normal rules regarding balancing charges in section 288 of the TCA, 1997 apply.
Where certain balancing events occur, for example, the sale of the equipment or its ceasing to be used for the purposes of the trade, there may be a claw-back of the allowances already granted having regard to the proceeds or value of the equipment (or deemed proceeds/value) at the time of the event

It says "may" clawback and it requires you to declare that you sold it within the 8 year period. I guess people dont do that!

unkel

cros13 wrote: »

So we have an official date for the opening of the Tesla Service+ location in Sandyford.

April 26th.

Dunno if it's a coincidence but I saw my first Tesla in Ireland in Sandyford Ind Estate yesterday. On UK plates unfortunately

cros13

I usually see about 4-5 a week... maybe it's just my eagle eye for spotting EVs in traffic.

Mope

I see one each day have to say I am not sure I like it's front entirely... something puts me off when I look at the car. Haven't been inside though.. or driven of course :-]

recyclops

i constantly see the same one in sandyford quite regularly, i have been asked to be a plus 1 for the event on the 26th excited about it

caster

Mope wrote: »

I see one each day have to say I am not sure I like it's front entirely... something puts me off when I look at the car. Haven't been inside though.. or driven of course :-]

Do you mean the new front without the false grill ? i.e.

http://www.caranddriver.com/tesla/model-s

Personally, I really like it vs the older one (with the false grill).

Was up in Sandyford earlier, the Service Centre looks to be close to done internally anyway (complete with show models of the S and X in white) - just new glass doors to go on outside.


I got an invite to the event too, looking forward to it!

BoatMad

Cloudio9 wrote: »

I'll repeat. If the car is sold the capital allowances are clawed back so whoever came up with this tax idea hasn't a bog about tax.

e.g. Year 1: 171 Car bought 100k
Tax deduction claimed 24k

Year 2: 171 Car sold for 80k
181 car bought for 100k
Tax deduction claimed 4.8k (24k - 19.2k claw back)


Edit: It appears that the cap allowance is capped at 24k. Figures updated above based on limit.

+1, accelerated capital allowances are somewhat of an illusion,

Calahonda52

BoatMad wrote: »

+1, accelerated capital allowances are somewhat of an illusion,

Not if they are used as intended for the underlining business

cros13

More progress in Ballacolla (click for full size):

thelikelylad

cros13 wrote: »

More progress in Ballacolla (click for full size):

Officially opening next Wednesday 26th at 1pm!

Anyone else here heading to the store/service station opening? I'm driving up in the Ioniq

unkel

Boards EV meet?

ELM327

Why couldn't they have held the event at the weekend!

Mope

1pm sounds very good. I'm coming over. Exact address?

caster

Anybody got any updates on Birdhill ? Has work started there yet ?

Mope

unkel wrote: »

Boards EV meet?

So who is planning to come over?

I do, potentially with a colleague of mine. Where exactly this is going to happen?
1 PM is official time I guess.

bk

Can anyone just drop by or is it invite only?

Where and when?

I might drop by for a nose around.

cros13

Forgot to put up the latest photos of ballacolla. Again click for fullsize. Model S 90D showed up early.

Mope

Where in Ballacolla is it? It is not in Ballacolla, Co. Laois I hope?

BoatMad

long way from D4 to get a charge !!!

cros13

Mope wrote: »

Where in Ballacolla is it? It is not in Ballacolla, Co. Laois I hope?

Yes, about halfway between Dublin and Cork. I've met a few of the cork Model S already stop there at the chademo on the return journey from Dublin.

Cloudio9

Is this a new motorway services station or a Tesla dealer ?

Calahonda52

Cloudio9 wrote: »

Is this a new motorway services station or a Tesla dealer ?

Its an existing FCP for the EV hoi polloi who can soon gaze at the gilded EV owners.
Its actually in good location, very near the motor way with good facilities

cros13

8 bay supercharger (135kW per pair) beside the existing Manor Stone private services. There will be four supercharger sites this year which will provide full geographic coverage for the whole of Ireland, possibly a fifth supercharger site in Belfast in Q4.
ESB has a single 50kW multi-standard rapid charger in Ballacolla for the last 2 years which has seen higher than normal numbers of UK and Irish Teslas stopping at it already. Only place in Ireland that I've seen two Model S charging beside each other.

The other site currently under construction is Birdhill just outside Nenagh, also an 8-bay.

BoatMad

cros13 wrote: »

8 bay supercharger (135kW per pair) beside the existing Manor Stone private services. There will be four supercharger sites this year which will provide full geographic coverage for the whole of Ireland, possibly a fifth supercharger site in Belfast in Q4.
ESB has a single 50kW multi-standard rapid charger in Ballacolla for the last 2 years which has seen higher than normal numbers of UK and Irish Teslas stopping at it already. Only place in Ireland that I've seen two Model S charging beside each other.

The other site currently under construction is Birdhill just outside Nenagh, also an 8-bay.

any idea where the others will go , I would presume one somewhere around Dublin ?

cros13

BoatMad wrote: »

any idea where the others will go , I would presume one somewhere around Dublin ?

West Dublin along the M50 (they were talking to liffey valley shopping center at one point but I don't think that's going to go through) and Enfield/Kinnegad

Cloudio9

Calahonda52 wrote: »

Its an existing FCP for the EV hoi polloi who can soon gaze at the gilded EV owners.
Its actually in good location, very near the motor way with good facilities

So is it only teslas that use this type charger?

cros13

EU-market Tesla's use their own proprietary signalling over a standard european Type 2 plug.
So the plug will fit most european EVs but it won't work.

The european standard is CCS which is capable of charging faster than Tesla's superchargers (170kw Gen1 / 400kw Gen2 vs 125-135kW) but no CCS vehicles have been launched yet that can accept more than ~80kW (several 150-170kW models due over the next 12 months).

ESB however have only installed 50kW chargers and only one per site vs Tesla's 8 bays.
ESB have ~1000 AC chargepoints, but those supply only what the onboard chargers in the car can take up to a max of between 3.6 and 22kW.

400kW CCS rapid charging could provide ~500km of range in 15 minutes if the car can take it (excl ramp up and down).