For those postponing delivery until 6 Apr

[Mr Miserable]

Be under no illusions, Tesla will want to deliver your car to you this quarter ie before 31 Mar.
If you say you cannot accept delivery and Tesla can find a buyer for your car, guess what?
Do you think they will be able to find a buyer for your Model 3? I think so too.
The rumour is no more shipments to the UK until June.
Enjoy the wait...

You need to get qualified financial advice on the impact of getting delivery on 31 Mar will be to your BiK.
I'm sure someone will post it here.

 

[ringi]

Why can't the employer take delivery before end of March, but only give the employee use of the car from 6th Apr?

 

[LongRanger]

Unless I’m missing the point, for EVs registered before 6 April, is it not just a few days/weeks at the 16% rate then switches to revised rates from 6 April onwards ?

No company car tax on electric cars in 2020/21
In July 2019, the Treasury made the decision to scrap the previously published BIK tables for 2020/21 and create two new ones – one for those driving a company car registered from 6 April 2020 and one for those driving one registered before that date.

The purpose of this is to separate cars that had their emissions tested under the old NEDC (New European Drive Cycle) criteria from those tested under the new WLTP (Worldwide Harmonised Light Vehicle Test Procedure) requirements, which tends to produce a higher CO2 reading. Typically, cars registered from 6 April 2020 can expect to see their BIK rates cut by two percentage points in 2019/20.

Perhaps the biggest effect of the changes was the introduction of a zero per cent BIK rate for EVs registered from 6 April 2020, rising to one per cent in 2021/22 and two per cent in 2022/2023.

The zero percent rate also covers all-electric company cars registered before 6 April 2020, as well as hybrids registered after that date that emit 1-50g/km of CO2 and have a pure electric range of 130 miles, though at present there are no such cars on the market.

From 2023/24 onwards, the two tables will merge to become one again, realigning the rates following the implementation of WLTP.

 

[Durzel]

Yes. It’s not going to break the bank to pay the higher rate of BIK for such a short period.

 

[Russinating]

Yup, I'll be paying the higher rate for a month.£117 odd. There's various calculators online.

 

[UK_Andy]

Anybody not wanting their M3P before April, I will gladly take it off their hands! Still not had an estimated arrival date or RN from zenith and am fully expecting June delivery at this point. If I’m lucky!!

I would absolutely pay the higher BiK for one month if asked to take it in March.

 

[LongRanger]

just as a real-world comparison

currently I have a rocketship Passat 1.6TDi saloon as a hire vehicle whilst the new car is on order. P11D is £20k or thereabouts

The BIK cost of this (due to long term hire) is around £210-220 per month.

The BIK cost of the LR model 3 at 16% BIK on P11D of £52k for me would be ..... around £220 per month.

Guess which car I would rather be driving.

 

[spooksman]

A LR Tesla is about £266 a month for a higher rate tax payer in 19/20.

LongRanger is spot on, having a £20K Passat diesel (CO2 of 116g/km) would carry a cash equivalent of about £609 for the period 1st March to 5th April (assuming you don't get free fuel), for a £50K Tesla that would be about £786 for the same period.

Obviously you are only liable for the tax on that - assuming higher rate tax that's about £244 compared to £314, so the Tesla is only £70 more for those 5 weeks. As it is likely to be less than 5 weeks in reality, and you'll be saving on fuel as well - I certainly wouldn't be risking a delay!

 

[LongRanger]

Yep, my Tesla costs slightly lower due to “modified cash equivalent” calculations but it does show how poor value even a modest company car BIK value is on non EV.

That being said, 0-60 in this century sometime is an interesting experience and has made me wake up a bit on the motorway. Planning in advance to accelerate next week .....

 

[spooksman]

That's interesting, as the modified cash equivalent would normally be based on availability, list price (without the £3.5K grant taken off), CO2 plus any factory fitted extras.

Love to know how you got that lower, as I could use that too..

 

[LongRanger]

It’s based on my allowance foregone to take the car, nothing to do with me all done by the company

 

[spooksman]

Just so they know, cash foregone is not used in the calculation when applied to a car with a CO2 of less than 75g/kg...

 

[LongRanger]

Ok, so worst case it’s the 275 figure monthly until 6 April - still nothing to worry about but I will check my payslip carefully

- edit - assuming the car turns up by then ..... lol

 

[spooksman]

Yeah, my order was placed in mid Jan - to be honest, not expecting the car this side of June from what I'm reading...

 

[LongRanger]

Looks like I missed a Jan delivery by about a week - as someone I work with ordered 1 week before me got his 2 weeks ago - and another ordered 3 weeks earlier and got theirs for xmas

 

[Inky38]

Well I requested a 6th April earliest delivery, but emailed my lease company today asking them to remove that restriction.

Hopefully I’ll get my car in March

 

[Pazz]

Yeah, my order was placed in mid Jan - to be honest, not expecting the car this side of June from what I'm reading...

June? Jeez I've just placed an order for a SRP and hope it's not June!

The Tesla site states March on the order page.

 

[Pazz]

Be under no illusions, Tesla will want to deliver your car to you this quarter ie before 31 Mar.
If you say you cannot accept delivery and Tesla can find a buyer for your car, guess what?
Do you think they will be able to find a buyer for your Model 3? I think so too.
The rumour is no more shipments to the UK until June.
Enjoy the wait...

You need to get qualified financial advice on the impact of getting delivery on 31 Mar will be to your BiK.
I'm sure someone will post it here.

My Qualified Financial Advice is to accept delivery before i6th April f available. A P11D requires an employer to state the exact dates a car i made available to an employee and the benefit in kind charge is pro-rated to the number of days specified. Therefore it will be a negligible cost.

 

[CyMan]

Yeah, my order was placed in mid Jan - to be honest, not expecting the car this side of June from what I'm reading...

I placed my order two weeks ago and I am collecting my M3 on Wednesday so I think you just might be pleasantly surprised. I suddenly received a text message telling me that the vehicle is running ahead of schedule

 

[CyMan]

My Qualified Financial Advice is to accept delivery before i6th April f available. A P11D requires an employer to state the exact dates a car i made available to an employee and the benefit in kind charge is pro-rated to the number of days specified. Therefore it will be a negligible cost.

My own understanding is exactly this. However as I am self employed it doesn't seem to affect me at all as I just manage it as a company vehicle but for those of you with P11 issues it would be negligible and well worth the price to get into your shiny new Tesla ahead of the curve