Liberty Electric Range Rover saves over £8,500 of tax every year
Senior executives suffering the high cost of driving large luxury company cars make major savings for themselves and their businesses by opting for the Liberty Electric Range Rover.
The uniquely powered zero emission Range Rover, with all of its luxury, performance and security, still qualifies for the same generous tax advantages and incentives, aimed at encouraging drivers into small non-polluting city cars.
Compared to executive favourites such as the Range Rover Vogue, Audi Quattro and Mercedes CDI, the Liberty Electric Range Rover saves over £8,500 a year of benefit in kind tax, due to its inclusion in the Inland Revenue’s maximum discount band solely for electric vehicles. It also qualifies for exemption from vehicle excise duty, and parking and congestion charges in London and major cities, saving a further £12,000 each year.
Corporate ownership also entitles company finance directors, or leasing companies, to write-off 100 per cent of the electric Range Rover’s purchase price against tax in the first year, compared to only 10 per cent for other vehicles in the same class. In addition companies save around £6,000 a year in National Insurance contributions (assuming 12.8% taxable benefit), and employee business and private fuel costs.
Barry Shrier, founder and CEO of Liberty Electric Cars says: “Apart from the obvious and important environmental benefits of zero emission driving, there are also some very compelling economic advantages of switching to electrical power. Given that electricity is so much less expensive than petrol or diesel, and bearing in mind that tax regimes will increasingly favour clean propulsion, we see normal usage scenarios where by the Liberty Electric Range Rover pays for itself in 2 – 3 years”.
Liberty Electric Cars Ltd is investing £30 million in the re engineering of large luxury cars and 4 x 4’s into emission-free, high performance electric vehicles, which will include the world’s first zero emission, electrically powered Range Rover.
Liberty Electric Cars has also launched the Zero Emission Vehicle Foundation. The Foundation is accelerating the introduction of zero emission technologies by raising awareness, and attracting funds and investment into the sector.
The Foundation’s board, is chaired by Lord Anthony St John of Bletso, and includes other prominent figures from the automotive industry, the sciences, Government and the private sector. It brings component suppliers and vehicle manufacturers together, to create the right connections, through its quarterly meetings.
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