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Workplace charge point

  • 02-07-2020 9:34am
    #1
    Mark Hamill
    Registered Users, Registered Users 2 Posts: 7,783 ✭✭✭


    Is there a grant or tax incentive for a business to install a charge point for their employees?

    Would charging at your workplace charge point mean you are liable for some kind of benifit-in-kind tax or charge?


Comments

  • #2
    rx8
    Registered Users, Registered Users 2 Posts: 1,844 ✭✭✭rx8


    Mark Hamill wrote: »
    Is there a grant or tax incentive for a business to install a charge point for their employees?

    Would charging at your workplace charge point mean you are liable for some kind of benifit-in-kind tax or charge?

    They are allowed to offset the cost of installation against their tax liability in the same year.
    It's not considered a benefit in kind by revenue for them to provide it for employees.


  • #3
    innrain
    Registered Users Posts: 2,146 ✭✭✭innrain


    There is no grant that I know off. There is accelerated capital allowance which helps with the tax bill though and anecdotally I have heard there is no BIK for charging at work your own car or car provided by company.


  • #4
    Zenith74
    Registered Users, Registered Users 2 Posts: 755 ✭✭✭Zenith74


    Mark Hamill wrote: »
    Is there a grant or tax incentive for a business to install a charge point for their employees?

    Would charging at your workplace charge point mean you are liable for some kind of benifit-in-kind tax or charge?

    The only incentive I'm aware of is Accelerated Capital Allowances, which means you can write-off 100% of the value of the charging equipment in the year of purchase, instead of over 5-8 years, assuming the company is making a profit and paying corporate tax. And of course as a company you can offset VAT on the charger and install.

    There is no BIK on workplace charging since the budget in 2018ish.

    EDIT: sorry typed this way too slow, others already answered :)


  • #5
    Mark Hamill
    Registered Users, Registered Users 2 Posts: 7,783 ✭✭✭Mark Hamill


    Thanks everyone!
    Zenith74 wrote: »
    The only incentive I'm aware of is Accelerated Capital Allowances, which means you can write-off 100% of the value of the charging equipment in the year of purchase, instead of over 5-8 years, assuming the company is making a profit and paying corporate tax. And of course as a company you can offset VAT on the charger and install.

    So if it costs e.g. €1000 for supply and install of a charge point, all €1000 can be claimed back as an expense?
    Zenith74 wrote: »
    There is no BIK on workplace charging since the budget in 2018ish.

    I saw this article from 2017 and was wondering if it was still the case.


  • #6
    Zenith74
    Registered Users, Registered Users 2 Posts: 755 ✭✭✭Zenith74


    Mark Hamill wrote: »
    So if it costs e.g. €1000 for supply and install of a charge point, all €1000 can be claimed back as an expense?

    The effect is similar yeah, but capital allowances are different to expenses from an accounting/tax point of view. Generally you're only allowed to treat a certain percentage of them as an expense per year, so for example 1/8th per year for cars, because if you sold the thing after 3 years it would still have some residual value (unlike an expense which is worthless once it's spent). All the ACA allows you to do is claim all of the cost in the first year. It's good for cashflow really, over the 5/8 years you would have been able to claim the full value eventually anyway...


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  • #7
    McGiver
    Registered Users Posts: 4,450 ✭✭✭McGiver


    Zenith74 wrote:
    The effect is similar yeah, but capital allowances are different to expenses from an accounting/tax point of view. Generally you're only allowed to treat a certain percentage of them as an expense per year, so for example 1/8th per year for cars, because if you sold the thing after 3 years it would still have some residual value (unlike an expense which is worthless once it's spent). All the ACA allows you to do is claim all of the cost in the first year. It's good for cashflow really, over the 5/8 years you would have been able to claim the full value eventually anyway...
    So basically,from the accounting point of view, this measure equates the charger costs to any other expendable expense (e.g. coffee :)) or asset expense with no residual value. Correct?


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