Smith Gains the Victory on Tax Breaks for Electric Vans
Smith Gains the Victory on Tax Breaks for Electric Vans
Smith Electric Vehicles has a reason to celebrate; Smith recently won in a battle to garner UK tax breaks for electrically powered vans.
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Chancellor Alistair Darling announced in his Pre-Budget report, a tax break for corporations who buy electric vans. The tax break is in the form of a 100% capital allowance for those companies that buy electrically powered vans. This allows fleet owners to write-off the total cost of purchasing an electric van in the first year of owning the van.
Electrically powered vans are much cheaper to operate than diesel powered vans, but presently cost up to three times as much. The tax break will help with the high cost of electric vans and also help increase sales, which in turn will up the amount of production and bring down the price of electric vans.
Kevin Harkin, who is the Sales Director of Smith Electric Vehicles stated that the tax break would make electric vans more attractive to fleet owners throughout the United Kingdom, as it takes the high cost of buying an electric van out of the way. He went on to say that the tax allowance marks the end to a long campaign by Smith to gain capital allowances for electric vans.
Smith has been a leader in electric vehicle business for over 80 years. One of their vans, the Smith Edison is an electric version of the Ford Transit that is produced by Smith working with Ford Europe.
Article By alex
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