Company Employee Loan For Ev Purchase?

[-DB-]

Thanks @arg ... I'll have a chat with Accountant and report back.

Would be interested in hearing the outcome of this. Whilst we do not have our own car park at work, we do provide access to one for management. I’d be interested in any schemes for EV’s for staff as could potentially offer at appraisal stage etc if worthwhile.

 

[ringi]

Be careful as the employer is often liable if a member of staff leaves and does not cover the cost of cancellation of the lease. This may included an employee you have just dismissed leaving you with a very large bill if they are not worth taking to court.

 

[Watts_Up]

Interesting to notice that the IRS don't separate EV from ICE vehicules when calculating mileage reimbursement (if you itemise)

Jan. 1, 2019, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

58 cents per mile driven for business use, up 3.5 cents from the rate for 2018,
20 cents per mile driven for medical or moving purposes, up 2 cents from the rate for 2018, and.Dec 14, 2018, and
14 cents per mile driven in service of charitable organizations.​

 

[arg]

Our chargers have a QR code on them. Employee has to use Phone APP and "photograph" the QR code to get a charge. I think they have the ability to say "Now" or "By 5PM" (so that load-balance scheduler can prioritise anyone who is in a hurry)

Are you able to disclose your equipment supplier? This sounds a better system than most.

 

[WannabeOwner]

Are you able to disclose your equipment supplier?

I just got the guy that Tesla originally recommended to install my Wall Charger to do it ... no idea what brand it is!! but I'll find out.

 

[WannabeOwner]

@arg - found a quote, unless something changed looks like it is "EO Genius"

Fleet Charging | EO Charging | Smart electric vehicle charging

and ditto this should be the 50% grant that was applicable

Apply for a workplace charging scheme voucher - GOV.UK

 

[arg]

Fleet Charging | EO Charging | Smart electric vehicle charging

Thanks. After a slow start, EO seem to be doing some good stuff - though all these suppliers seem to want to come and sell it to you rather than telling the full story on their website. PodPoint supposedly have a similar offer, but I've not found anybody to tell me if it's actually any good.

 

[WannabeOwner]

I just went with what the installer recommended - he's given me loads of good advice on all sorts of electrical-related stuff - PV / PowerWall / UPS / can we trust PowerWall to be UPS? / complication of aligning that with 3-Phase / running office in a PowerCut / original splitting of the 3-phases not being ideal (with benefit of 20;20 hindsight - the multiple server rooms are not on the same phase ... electric heaters and PCs share phase and wiring ... no easy way to power "All critical devices" from a single PowerWall) / replacing Solar Thermals with PV + ASHP / all sorts really!

All a bit early-days pioneering of course, but I'm not uncomfortable with that. In this instance I don't need "Perfect is the enemy of good".

Happy to recommend him to anyone that needs that sort of knowledgeable person. He probably isn't cheap ... Peterborough based.

 

[MrBadger]

Or for companies on larger sites, organising shuttle services to local pickup points and public transport stops. Or more/better bike racks or incentives for people to car share - we use to have priority car share spaces. Just something to make it easier for people to use alternative methods to commute rather than solo vehicle occupancy. Yes, I know. Does not work for all, but will for some, even if not every day of the week. Lots of worker mobility solutions to think about, even if its just WFH one day a week or working at a local satellite location.

Vehicle ownership models is predicted to change dramatically in the future. Taxing of free office parking an even more short term possibility.

<Flame_Jacket="On"/>

 

[WannabeOwner]

organising shuttle services to local pickup points

Our office is in the middle of the countryside

Or more/better bike racks

We have those ... Cambridge severely restricts the parking spaces an office can have ... because we are "Cambridge" ... notwithstanding "we are in the middle of the countryside" 10 miles from town centre

On a really nice summer's day one or two people cycle ... but only a couple live within 10 miles, most are 20 miles out ...

And if we offer Home Working to some then everyone, including the Office Cleaner!!, thinks they should be entitled too ...

Yes, I know. Does not work for all

Me = Move everyone who currently comes to work by ICE to EV

 

[WannabeOwner]

Here's where I have got to after initial conversation with Accountant

For the Boss its easy. No complication with "circumstances change" ... Boss can do whatever is necessary to JFDI ...

For Employees its different ...

We don't offer Company Cars. Professional Staff compare Salary with published industry data. All perks such as Car, Health Care etc. are all overlooked, and we used to waste far too much senior management time reminding people that their Salary is Ex-Perks ...

So we just now pay salary inclusive all the Bits and Pieces and there are no "addons" (we pay our people Top Dollar anyway ...)

So deciding that we will offer a Company Car policy is, for us, "fraught".

Conversation with senior management went like this:

"Let's provide incentive for Staff to change to EVs"
"We've put 10 chargers in the car park, what more do they expect?"

I'm in a different place the one where Company scores big PR-win from its green credentials. Would suit me just fine if visitors can't find anywhere to park because the only free spaces say "Reserved for EV only" and they have rocked up in a gas-guzzler

Remains to be seen (i.e. I've asked accountant) if Salary Sacrifice is worth us even considering ... Accountant said:

"You could do A, B and C and to protect against D (e.g. employee leaving and lumbering us with the car Lease) you could also do E (contractually bind them) ... but ... cost of professional fees for all those options might make it not worth doing"

Whether the sums work for employee to make salary sacrifice of, say, £5K p.a. (which has a tax advantage) and additionally save, what?, £5,000 p.a.on BiK compared to £50K ICE [as company car] ... compared to "Personally finance an ICE"

Accountant seems happy that Staff could claim normal mileage price for business miles ... and then charge at work for (most of) those miles anyway ... so there is cash-benefit for Staff there ... but our lot don't do a lot of business miles.