Video by Go Green Autos via YouTube
Source
Now that EV owners will be paying VED (road tax) from April 2025 and new car buyers will be clobbered with the ridiculous "luxury car supplement" also, the Government have taken away one of the cost advantages which may put some people off choosing zero emission vehicle. The Government is now considering offering low interest or even zero interest loans to stimulate private electric car sales. All other subsidies, grants or incentives have previously ended and they’re obviously looking at ways to meet their ZEV mandate targets.
In this video, I suggest another way. That would be to cut VAT on new zero emission vehicles. That cut could be a cut to 0% VAT and I look at the costs of that in this video. But it could be to 10% or 5% and it will probably have similar results. Changing the VAT rate is very easy to implement and costs the Government nothing to administer as the car dealers are the tax collectors.
This video was filmed 2nd February 2025.
If you’re thinking about buying a new Tesla, use https://ts.la/matt55592 or enter "matt55592" as a referral code for a discount of your purchase. A new Tesla Model 3 RWD is below the threshold of the "luxury vehicle supplement" and therefore will only be £20 to tax for the first year!
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Chapters/timestamps:
00:00 Subsidies & grants have ended
00:29 UK EV sales & ZEV mandates
01:01 Government backed loans
01:15 How about slashing VAT?
01:45 How VAT is collected on new cars?
03:06 How much would 0% VAT on new EVs actually cost?
04:17 EVs are not as expensive as most think
04:58 Would 0% VAT persuade you to purchase an EV?
05:16 Please subscribe
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