Details correct as at article date: July 2014
If you’re looking to upgrade or even implement a fleet of company cars then the Mitsubishi Outlander PHEV has the potential to save your business thousands of pounds a year.
Because of its outstanding emission levels, a company purchasing an Outlander PHEV is able to write down 100% of the cost of the car against its profits chargeable for Corporation Tax in year one.
This is compared to a traditional company vehicle where a maximum of 18% per annum of the cost is allowable to write down against the profits chargeable for Corporation Tax. This is reduced to only 8% on vehicles with a CO2 level exceeding 130g/km.
This means that any business with even a small fleet of cars could save tens of thousands of pounds in Corporation Tax in the first year after purchase.
(First-year allowances: Currently, there are 100 per cent first-year allowances (FYA) available for business expenditure on a new electric car, or a new, unused car with CO2 emissions up to 95g per km driven . This means you can claim the full cost on these assets as a deduction when calculating your taxable profit or loss for the accounting period that you spent the money.)
Not only will your business save money on Corporation Tax but there will also be a reduction in its associated Class 1a National Insurance Contributions.
The PHEV’s ultra-low emissions of only 44g/km means that company car users driving the Outlander PHEV will benefit from a reduction in BIK tax payments down to just 5%. Similar sized SUVs typically have Benefit in Kind and fuel card tax rates of 30%. For an Outlander PHEV, they are 5%. Select for more details.
Test drive the Outlander PHEV at Firs Garage
The Mitsubishi Outlander PHEV is available to test drive at Firs Garage. For more details and to arrange a test drive call the Firs Garage sales team tel. 01608 737349.