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Employees returning to company cars
Around 80% of employees who have opted out of their company’s company car scheme are either ‘likely’ or ‘very likely’ to switch back to the company car – and many of them will plump for an electric vehicle.
That’s according to Drive-Electric, which has pinpointed the forthcoming change to Benefit in Kind taxation as a key driver of change. Battery-powered electric cars will incur zero company car tax from April 2020, which means employees could save thousands of pounds a year by switching to a pure EV.
Lower whole-life costs, the growing number of proposed Clean Air Zones, and motorists preferring the driving experience of EVs are also having an effect.
Commenting on the link between the return of the company car and achieving the EV targets set by the government, DriveElectric’s MD Mike Potter explained: “As long as incentives remain, the government’s target of all new car sales to be electric by 2035 – or 2032 – is achievable. In addition, private buyers will benefit from an increased supply of two to four year-old used electric cars, spreading the benefit of this investment.
“With a wide range of new EVs currently coming to market, supported by financial incentives, 2020 is the ideal year for business users to convert to electric – and today’s company cars become vehicles for private motorists in a few years’ time.”
Company Information
© Copyright Marshall Motor Group
Registered Office - Airport House, The Airport, Cambridge, CB5 8RY.
Registered in England Number 00295579
VAT Reg. No: 213209019
Marshall Motor Group Limited is authorised and regulated by the Financial Conduct Authority. Our firm reference number is 310503.
Company Info
- Privacy Notice
- Terms and Conditions of Sale and Supply
- Site Map
- Modern Slavery Statement
- Occupational Pension – Statement of Investment Principles 2021
- Occupational Pension - Chairman's Statement 2021
- Occupational Pension Scheme – Implementation Statement 2021
- Gender Pay Gap Reports
- Finance & Insurance complaints procedure
- Data Preferences
- Finance Commission Disclosure Statement
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Marshall Motor Group Limited is a credit-broker not a lender.
Marshall Motor Group Limited is authorised and regulated by the Financial Conduct Authority. Our Firm Reference Number is 310503. Details of our permissions and trading names can be checked via the FCA register https://www.fca.org.uk/
All of the following companies are individually authorised and regulated by the Financial Conduct Authority with a Limited Permission for credit broking. Each company is a credit broker not a lender: Astle Limited; Crystal Motor Group Limited; Marshall North West Limited; Marshall of Ipswich Limited; Marshall of Peterborough Limited; Marshall of Scunthorpe Limited; Marshall of Stevenage Limited; and Silver Street Automotive Limited. All of the following companies are Appointed Representatives of Marshall Motor Group Limited for credit broking: Pentagon Limited; Ridgeway Bavarian Limited; Ridgeway Garages (Newbury) Limited; S G Smith (Motors) Crown Point Limited; S G Smith (Motors) Sydenham Limited; and S G Smith (Motors) Beckenham Limited.
We may receive a commission or other financial benefit from our lenders for arranging finance for you. For further information on our commission arrangements please see our Finance Commission Disclosure Statement
Marshall Motor Group Limited is authorised and regulated by the Financial Conduct Authority to conduct insurance distribution as an ancillary insurance intermediary. All of the following companies are Appointed Representatives of Marshall Motor Group Limited for the purposes of insurance distribution: Astle Limited; Crystal Motor Group Limited; Marshall North West Limited; Marshall of Ipswich Limited; Marshall of Peterborough Limited; Marshall of Scunthorpe Limited; Marshall of Stevenage Limited; Pentagon Limited; Ridgeway Bavarian Limited; Ridgeway Garages (Newbury) Limited; S G Smith (Motors) Crown Point Limited; S G Smith (Motors) Sydenham Limited; S G Smith (Motors) Beckenham Limited; and Silver Street Automotive Limited.
ITC Compliance
We have a number of limited companies within the group who are Appointed Representatives of ITC Compliance Limited. They are: Motorline Limited (01848722); Motorline (Kent) Limited (04899072); Motorline (Broad Oak) Limited (10270930); Motorline (Canterbury) Limited (08237424); and Driveline Limited (04626624). ITC Compliance is authorised and regulated by the Financial Conduct Authority (Firm Registration Number 313486). Their permitted activities include advising on general insurance contracts and acting as a credit broker not a lender.
ITC Compliance and/or the above Appointed Representatives do not charge fees for their consumer credit services. A payment or other financial benefit (the “payment”) may be made by the lender to us should you decide to enter into an agreement with them. The payment made by the lender to us does not impact the finance rate offered to you. All finance applications are subject to status, terms and conditions apply. You must be a UK resident and over 18.
List of Companies for credit-broking and insurance distribution
More about our credit-broking services & our insurance distribution activities
We are officially a Great Place to Work®, Motor Trader’s ‘Employer of the Year’ 2020 & 2021 and Automotive Management’s ‘Dealer Group of the Year’ 2021.
