Electric Cars – Benefit in kind

Electric Cars Tax-Free for employees

The last budget in 2017 introduced an exemption for 2018 from benefit-in-kind provisions in relation to electric cars.

An electric car is one that derives its motive power exclusively from an electric motor.

If an electric car is made available for an employee’s private use, no taxable benefit will arise in respect of that private use.

In other words, if your company or employer gives you a electric company car, you pay no tax on the deemed benefit in kind from same

This exemption applies for the period 1 January 2018 to 31 December 2018 and applies to both new and used company cars.

Any queries on the above give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie