My Tesla Model 3

[IT]

Originally Posted by sarg

Ian, what are the tax advantages - maybe I should change my accountant, but when I asked her, she was clueless!

I run my cars as private cars and pay myself a mileage allowance, rather than as a company car. I could consider a Tesla as a company car, but with the advent of IR35 rule changes next year, I might find myself contracting inside IR35 which would mean making the ltd company dormant or liquidised, so not sure that would be a sensible route right now.

Here is my understanding, but please do your own research to confirm:

I'm running mine as a company for the main reason that its widely accepted that the BIK will drop to 0% for EV's next April, 1% the next year, and 2% the year after - So, essentially, you're getting a company car - paid for by pretax money - for not a lot of dosh.

You also get a 100% first year capital allowance against the full cost of the car if its new, and 'bought', rather than leased.

VAT is 50% reclaimable if leased, 100% reclaimable if the car is used solely for business purposes and 0% reclaimable if purchased for personal use.

As a company car, insurance, tax (yes it has road duty as its > 40K value), servicing (none to speak of really), tyres , accessories, home charging points etc can all go through the business.

But. If you do high business miles, and rake in the statutory allowances, with electric being so much cheaper, you might well be quids in running it personally.

I intend to use it mainly for a commute work, personal use, and a few business miles, hence I opted for the company can route.

Originally Posted by sarg

As for charging, I travel around the country, often staying in hotels, but rarely see hotels with operational charging points, and those that do tend to be rather expensive - any tips on this aspect?

Its early days for my experiences, but I would agree that relying on hotels to charge up could be hit and miss. I leave the car trickle charging at home every night, and use the Tesla Superchargers to top up on route if I head long distance. I've found public car parks have more charging points than I first realised, and often they are free to charge with. Additionally, there are public charging points at every motorway service area I've seen, and when I was first trying them out, I never had to queue. (i don't bother with them now, as the Tesla chargers are plentiful, familiar, easier to use and faster)

In your position, i'd probably look to supercharge it up before I arrive at the hotel, and treat any charging facilities as a bonus...... Depends on how far and wide you travel though, obviously.

[J i m s t e r]

Originally Posted by sarg

Ian, what are the tax advantages - maybe I should change my accountant, but when I asked her, she was clueless!

I run my cars as private cars and pay myself a mileage allowance, rather than as a company car. I could consider a Tesla as a company car, but with the advent of IR35 rule changes next year, I might find myself contracting inside IR35 which would mean making the ltd company dormant or liquidised, so not sure that would be a sensible route right now.

As for charging, I travel around the country, often staying in hotels, but rarely see hotels with operational charging points, and those that do tend to be rather expensive - any tips on this aspect?

Cheers, Steve

I was informed yesterday that next year, new purchases of electric vehicles are not subject to being taxed as a benefit in kind, so a big incentive.

https://pod-point.com/guides/busines...ectric-car-tax

[Johnmed]

Well done Ian. I very nearly put a deposit down on the model 3 years ago. I couldn’t quite convince myself it was a wise investment and didn’t. Was very very tempted to though.

Glad you’ve made the jump.

A used model S with free supercharging (if that’s still a thing) is on my wish list.

[tintin]

Originally Posted by Johnmed

A used model S with free supercharging (if that’s still a thing) is on my wish list.

It still is a thing - the free supercharging for life stays with the vehicle when sold on to the buyer - and at least one Model S has done half a million miles already https://futurism.com/the-byte/tesla-...000-kilometers )

[sarg]

Thanks for the info, the huge reduction in BIK tax could be the game changer

[IT]

Originally Posted by sarg

Thanks for the info, the huge reduction in BIK tax could be the game changer

Its so low, its barely worth factoring in....


I get the impression there are a lot of people holding back with the intention of buying a Telsa for April next year, but they'll all order them in Feb, and get them for July I suspect with the surge and thus delays !

My theory was, get it now, stomach a few months of 16% BIK and still save on fuel etc in the meantime....

[IT]

Originally Posted by tintin

It still is a thing - the free supercharging for life stays with the vehicle when sold on to the buyer - and at least one Model S has done half a million miles already https://futurism.com/the-byte/tesla-...000-kilometers )

There were very recent offers, possibly still on, where Model S and X were getting free supercharging for life again, certainly whilst I was waiting for mine - It was tempting, but not tempting enough to pay several 10'000's more for the car...

The S is different proposition. Dare I suggest, its more your A6/A8 in terms of size, luxury, options etc, and the Model 3 is more of your A4.

Personally, I wanted the slightly smaller, more nimble (and cheaper lol) A4 frame, so the model 3 fits me perfectly.

First frosty morning today. It was -1 outside. Sat inside having a cuppa whilst it warmed itself up fully. Doesnt take long as the heat is electric, and thus instant.... It was very satisfying......

[tintin]

Originally Posted by IT

The S is different proposition. Dare I suggest, its more your A6/A8 in terms of size, luxury, options etc, and the Model 3 is more of your A4.

Personally, I wanted the slightly smaller, more nimble (and cheaper lol) A4 frame, so the model 3 fits me perfectly.
.

The Model 3 is a much better proposition for UK/most European roads, as both the S and X are really a bit too big/wide. All the M3 really loses is the practicality of the S/X's hatchback (and hence load swallowing..) capability, but it more than compensates for that by being massively better value for money for most people and (allegedly... ) has better handling too!

No Tesla is a "luxury" car, if you want all the bells & whistles, such as massage seats, etc, but that's not what they're about, really.

[paulrstaylor]

Originally Posted by tintin

The M3 is a much better proposition for UK/most European roads

BMW would agree

[sarg]

Originally Posted by IT

Its so low, its barely worth factoring in....


I get the impression there are a lot of people holding back with the intention of buying a Telsa for April next year, but they'll all order them in Feb, and get them for July I suspect with the surge and thus delays !

My theory was, get it now, stomach a few months of 16% BIK and still save on fuel etc in the meantime....

I’m holding off to see how the IR35 changes affect me, should know by Xmas