Windsor welcomes no increase on Benefit-in-kind tax for electric vehicles in Irish Budget

If you were ever thinking of purchasing an electric car – then the time is now! The Irish Budget delivered yesterday the maintenance of a zero per cent rate Benefit-in-Kind (BIK) for the first year on electric vehicles (EVs). The one-year lower BIK rate will add further to the current Vehicle Registration Tax (VRT) tax relief on electric vehicles to a maximum of €5,000 as well as the SEAI grant of up to €5,000.

Just think – all these savings are in addition to the given annual fuel savings once you adopt an electric vehicle life-style AND a free charging port which will be built at your home! We at Windsor have championed the adoption of Electric Vehicles from the beginning, and particularly the Nissan LEAF, making Ireland a leading European market in electric vehicle uptake. So, if you are in the market for a new car, or are thinking about when the optimal time for a car update might be given your budget, then now is the time to start your research and visit us.

Moreover, if you're in the market for a commercial purchase, then a new incentive for company-owned electric vehicles will be rolled out. A Government initiative setting aside monies for this BIK incentive at €500,000, will be available to aid the transition for businesses to adopt electric vehicles, although this amount will be by year end determined by how many opt for the scheme.

Nissan Leaf Exterior

The Director General of the Society of the Irish Motor Industry (SIMI), Alan Nolan said ‘the move is welcome as it promotes these vehicles as a more viable proposition, particularly for low mileage motorists for whom the limited range of many electric vehicles is not an issue’ (Irish Times Online, 10th October). That said, more electric vehicle specific initiatives such as free parking, free tolls, and non-clamping policies for electric vehicles while recharging, will promote the adoption of an EV future for both automotive industry and Irish environmental policy directives.

For further relevant information to facilitate purchasing an EV from a Windsor dealership see the following press release from Windsor on the New Nissan LEAF:

Windsor Press Release - Nissan LEAF - Irish Market

For further relevant information for grants to help you to purchase and EV see the following:

Sustainable Energy Authority of Ireland - SEAI Electric Vehicle Grant Scheme