Budget 2019 and EV

zep

Augeo wrote: »

liamog wrote: »

.........

Either way the goverment has €600 less and you have a charger.

And folk who bought a €70k Tesla as a company car who'd have paid themselves the money otherwise................ government has €35k ish less cash

Not that simple at all. Yes as an option a person could have paid themselves the extra money, probably over a couple of years and bought the car private, as there is no way anyone would be getting a company car costing that. That same self employed person could then just claim mileage and expenses against their driving, so no tax would be paid on that money. So what the government initially gets from extra personal taxes would be quickly wiped out with mileage expenses.

KCross

zep wrote: »

Not that simple at all. Yes as an option a person could have paid themselves the extra money, probably over a couple of years and bought the car private, as there is no way anyone would be getting a company car costing that. That same self employed person could then just claim mileage and expenses against their driving, so no tax would be paid on that money. So what the government initially gets from extra personal taxes would be quickly wiped out with mileage expenses.

The mileage expense would match the tax forgone in BIK?!
Thats some mileage to do that!

I'd like to see the figures that prove your point. Have you worked it out or is it a generalisation?

zep

KCross wrote: »

zep wrote: »

Not that simple at all. Yes as an option a person could have paid themselves the extra money, probably over a couple of years and bought the car private, as there is no way anyone would be getting a company car costing that. That same self employed person could then just claim mileage and expenses against their driving, so no tax would be paid on that money. So what the government initially gets from extra personal taxes would be quickly wiped out with mileage expenses.

The mileage expense would match the tax forgone in BIK?!
Thats some mileage to do that!

I'd like to see the figures that prove your point. Have you worked it out or is it a generalisation?

"Over a couple of years" I did specify that in my statement, as such it is easily achievable.
25,000km per year would out @ €8,819 allowable mileage claims (lowest rates) , €4.6k the Government don't get in taxes, adds up very quickly.

KCross

zep wrote: »

"Over a couple of years" I did specify that in my statement, as such it is easily achievable.

But isnt full BIK collectable every year on the RRP of the car(not its current value) so I dont see how a couple of years would make a difference?

zep

KCross wrote: »

zep wrote: »

"Over a couple of years" I did specify that in my statement, as such it is easily achievable.

But isnt full BIK collectable every year on the RRP of the car(not its current value) so I dont see how a couple of years would make a difference?

I also stated that the individual buys the car private not via company, can't claim mileage if it's a company car. So zero BIK on private car purchase.

KCross

You've lost me. I dont see your point.
I wont go for another tit for tat tax related discussion with you today!

zep

KCross wrote: »

You've lost me. I dont see your point.
I wont go for another tit for tat tax related discussion with you today!

Haha I was just about to post similar 😂😂😂

zep

zep wrote: »

Not that simple at all. Yes as an option a person could have paid themselves the extra money, probably over a couple of years and bought the car private, as there is no way anyone would be getting a company car costing that. That same self employed person could then just claim mileage and expenses against their driving, so no tax would be paid on that money. So what the government initially gets from extra personal taxes would be quickly wiped out with mileage expenses.

Any self employed folk I know were tempted to go the EV route as they do practically ZERO business miles.

So, I think is is that simple in many cases.

liamog

Alot of companies pay civil service rates for mielage expenses. @27.55c/km using your private EV could be very lucrative.

DrPhilG

KCross wrote: »

I wont go for another tit for tat tax related discussion with you today!

Which one is the tit though?

KCross

DrPhilG wrote: »

Which one is the tit though?

As they say on Big Brother.... "you decide!"

Jokes aside.... the Minister is the tit.

liamog

KCross wrote: »

As they say on Big Brother.... "you decide!"

Jokes aside.... the Minister is the tit.

Grant or Tax Credit we can all agree on that one!

KCross

He must have been listening to us.... he is resigning!

ELM327

KCross wrote: »

He must have been listening to us.... he is resigning!

He's a useless gombeen anyway.
Good riddance.

KCross

ELM327 wrote: »

He's a useless gombeen anyway.
Good riddance.

I wouldnt go that far. We've had worse.
Its who he gets replaced with now is the thing. Unlikely to be any better unfortunately.

ELM327

KCross wrote: »

Its who he gets replaced with now is the thing. Unlikely to be any better unfortunately.

Yeah they are all as bad as each other,
Who's the TD who drives a leaf, why can't he be the DCCAE minister!

KCross

ELM327 wrote: »

Yeah they are all as bad as each other,
Who's the TD who drives a leaf, why can't he be the DCCAE minister!

I vote for Danny... class act he is.
https://www.boards.ie/vbulletin/showpost.php?p=108322150&postcount=4

kuro68k

The UK just reduced the BEV tax break down to £3,500 and the PHEV one is gone completely.

DrPhilG

kuro68k wrote: »

The UK just reduced the BEV tax break down to £3,500 and the PHEV one is gone completely.

Well that's interesting.

What happens to all the Kona orders that are priced and have deposits paid based on the higher grant value?

unkel

If the car is delivered before November 11th, you still get the GBP4,500 it looks like

Linky

After that it's down to GBP3,500 and they hint the subsidy will be completely removed once another 35k EVs are sold.

DrPhilG

I'd be screwed either way then.

My Kona order is due January 17th, the Niro would be even later.

Casati

unkel wrote: »

If the car is delivered before November 11th, you still get the GBP4,500 it looks like

Linky

After that it's down to GBP3,500 and they hint the subsidy will be completely removed once another 35k EVs are sold.

Prepare to see massive number of pre reg phev’s and maybe ev’s registered before November in the UK

unkel

Just as there were massive numbers of pre reg emissions cheating diesels sold all over Europe in August and sales dropped to extreme lows in September (radical price increases because of WLTP implemented on 01/09/2018)

Casati

unkel wrote: »

Just as there were massive numbers of pre reg emissions cheating diesels sold all over Europe in August and sales dropped to extreme lows in September (radical price increases because of WLTP implemented on 01/09/2018)[/quote

Yes, great time to get a pre reg diesel that can no longer be sold due to WLTP regulations and import into Ireland

unkel

And avail of the cheap VRT and cheap motor tax, because said diesel is so clean. Not.

KCross

kuro68k wrote: »

The UK just reduced the BEV tax break down to £3,500 and the PHEV one is gone completely.

DrPhilG wrote: »

Well that's interesting.

What happens to all the Kona orders that are priced and have deposits paid based on the higher grant value?

It appears that if you have an order and the OLEV application has been submitted you have 9 months to take delivery.

Information for car buyers
I currently have a vehicle on order – will I still get a £4,500 / £2,500 grant?
Yes. As long as the dealer has correctly submitted the claim for the vehicle to OLEV, then it will qualify for a grant at the rates that were in effect when the car was ordered. However, the car must be delivered within 9 months of when the claim was submitted.

If I order a vehicle before the grant rates change, but it is not delivered and registered until after the grant rates change, will I still get a £4,500 / £2,500 grant?
Yes. As long as you order the vehicle before the grant rates change and the dealer has correctly submitted the claim for the vehicle to OLEV. Your dealer will be able to notify you of the grant you will be eligible for at the time of ordering the car.

You just need to ensure you place your Kona order before 9 Nov.

They have also put in a proviso that if the manufacturers mass register in the meantime that they will shut it down earlier.

When do you expect to make a decidsion on your Kona? When Irish eNiro prices are out? That should be before 9 Nov but might be tight to get order and paperwork into OLEV. Keep a close eye on that.

DrPhilG

To be honest my Kona decision is made, it's just too small. I'd regret spending the money on a car that has such major flaws.

Speaking of major flaws I'd nearly consider a second hand 40kwh Leaf if the price dropped enough but again I know I'd regret it.

unkel

DrPhilG wrote: »

I'd be screwed either way then.

My Kona order is due January 17th, the Niro would be even later.

Good news for you Phil if you are still going ahead with Kona. If the dealer has submitted the paperwork for your order by the end of this weekend, youll still get the higher grant

DrPhilG

The thought has crossed my mind to buy it with the higher grant and then sell it...

But I'm going to cancel my order tomorrow. I don't want the car, just too small.

Senature

I'm self employed, and just started looking into possibly getting a BEV sometime in the next 6 months.

Am I correct in saying that in the budget it was announced that BIK on electric vehicles is 0% for the next 3 years, capped at an OMV of 50k.

So if a company buys an electric vehicle for under 50k, all repairs, tax, any other running costs can be fully paid for by the company, and the user of the car pays no BIK at all?

Are there any rules in relation to how much the vehicle should be used for business use? Hypothetically what if total mileage for the year is 15000, with only 500 as business use?

Just amazed more people aren't doing this!