Car tax 2020: How employers could help you save 40 percent on a new car with tax changes

CAR TAX changes are coming into effect in 2020 and your employer could be the answer to getting a brand new vehicle for a cheap price tag.

Car tax rules for company vehicles are set to change this year which will see a complete ban on benefit-in-kind rates as rates are dramatically cut. The updates will slash benefit-in-kind rates to zero percent from 16 in a massive win for those wishing to get involved with the electric car revolution ahead of 2035’s petrol and diesel ban.

Changes to the rates will see some of the most popular EV’s on the market go for budget prices as the government aims to increase the uptake of the machines.

A premium Tesla Model 3 is estimated to cost around £530 under a 48-month contract. However, company car owners could see a 42 percent discount by paying just £307 per month.

Tesla Model3 (Image: Wikimedia/Carlquinn)

Tesla Model3 (Image: Wikimedia/Carlquinn)

Discounts would also come into force across the affordable market with Renault’s Zoe around 32 percent cheaper.

The city runaround is estimated to cost around £270 per month through a finance deal but a slash in benefit-in-kind rates for company car owners could see motorists paying just £184 per month.

Read more: Express

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