Grants & Incentives

As governments across the globe increase their efforts to reduce their carbon footprint and take action to mitigate the effects of climate change, many have introduced financial incentives to encourage increased ownership of electric vehicles.

Republic of Ireland

Purchase Grants

A grant of up to €5,000 is available for privately purchased Battery Electric Vehicles. For commercial vehicles the maximum grant available is €3,800 for a Battery Electric Vehicle.

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VRT Discounts

Discounts of up to €5,000 for vehicle registration tax (VRT) are in place for BEVs registered before 31st December2021. For more information click here.

Home Charger Grant

A grant of up to €600 is available to install an EV charging station at home. This is available for owners of both BEVs and PHEVs. There is a number of qualifying terms and conditions including:

  • The applicant must have purchased the vehicle after 1stJanuary 2018
  • The EV must be parked in an off-street location associated with the home and must be connected to the fuse board of the home
  • The property cannot be associated with a previous EV vehicle grant and charge point offer
  • The EV must be registered to the same address as to where the charging station is being installed

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UK

Purchase Grants

Grants to support the purchase of Electric Vehicles often referred to as the Plug in Car Grant have fallen steadily since being introduced in 2011. Currently support is capped at £1,500 for vehicles costing cars with a Recommended Retail Price (RRP) of leass than £32,000.

Grants for electric vans are also available, up to £2,500 for small vans (under 2.5 tonnes) or up to £5,000 can be claimed for larger vans. Motorbikes and moped owners can also qualify for support with the maximum grant offered being £500.

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Home and Workplace Charging Schemes

From April 2022 the Electric Vehicle Home Charge Scheme (EVHS) will no longer be available to homeowners (including people with mortages) who live in single-unit properties such as bungalows and detached, semi-detached or terraced housing. The scheme will remain open to homeowners who live in flats or people in rented accommodation (flats and single use properties).

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The Workplace Charging Scheme will similarly provide a maximum grant of £350 per socket and applicants can available of this support to install up to 40 sockets on their property. Charging stations of between 3.5kW and 22kW are eligible. For more information click here.

Road Tax

Battery Electric Vehicles costing less than £40,000 are exempt from annual road tax. Electric Cars valued over £40,000 will have to pay £325 per year road tax for the first five years. Plug in hybrid vehicles with C02 emissions less than 100g/km may pay between £0 and £135 per year depending on their emissions. For more information click here.

 

Benefit in Kind Taxation

From April 2022, drivers who use a company car for personal use will see an increase in the BiK rate of 1% (except for those driving cars already within the 37% BiK band – like some models of Aston Martin, Porsche, Land Rover, Subaru, Jeep and Audi). This means electric car drivers will pay 2% in BiK – still a fraction of the amount of tax drivers of petrol, diesel and hybrid cars pay.

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Capital Allowances

Cars with C02 emissions of less than 50g/km (BEVs and some PHEVs) are eligible for 100% first year capital allowances therefore the purchase cost of the vehicle can be deducted from pre -tax profits. On a vehicle costing £40,000 this could amount to relief of up to £7,600 in the first year of ownership.

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