Tax implications of electric vehicles

Petrol has peaked and half of drivers are now considering switching to a fully electric car. Directors and employees who drive fully electric company cars will have a nil taxable benefit for 2020-21. For the previous tax year 2019-20 such vehicles were taxed at 16% of the list price so we can see that significant reductions in the taxable benefits of electric cars have been made from 6 April 2020.

For instance the previous benefit-in-kind charge for a £70 000 Jaguar I-pace (an all-electric car with a 298-mile range) was £11 200 but for 2020-21 this has reduced to nil. This is an amazing tax-free perk but it is for one year only because the taxable benefit based on the list price will increase as follows:

The chancellor also confirmed in his March 2020 Budget that employees with fully electric company...