Saving over three years by driving an Outlander PHEV
|Savings over 3 years by choosing Outlander PHEV
Break down of savings for first year
|% of car price to be taxed:
|Annual income tax payable:
Tax calculations should be used as a guide only.
* Assumes the reportable value of fuel provided for private use in a company car is calculated as a percentage of a fixed sum of £22,200 in the tax year 2016-17 and £22,600 in tax years 2017-18 and 2018-19.
Company car drivers and the Outlander PHEV
Financial benefits for company car drivers
Company car drivers using the Mitsubishi Outlander PHEV for business can look forward to an increase in their pay packet equal to an average of over £4,000 every year.
Low emissions, low company car tax
Thanks to the Outlander PHEV’s Intelligent Technology it is able to achieve ultra-low emissions of just 41g/km, so it qualifies for a reduced rate of BIK (benefit-in-kind) taxation.
A fraction of the cost
The PHEV's ultra-low emissions of only 41g/km means that company car drivers choosing the Outlander PHEV will pay just 7% tax as BIK compared to the 25% or more that most business users will pay. To find out more about the money you could save check the chart below.
Not only will Outlander PHEV company car drivers be receiving a boost to their pay cheque but they’ll be benefiting from a staggering 166 mpg*, exemption from Road Tax and if they’re making a commute of less than 30 miles they’ll be able to make their journey to and from work for just pennies.
*Official EU MPG test figure shown as a guide for comparative purposes and may not reflect real driving results.
Financial benefits for companies
If you’re looking to upgrade or even implement a fleet of company cars then the Mitsubishi Outlander PHEV has the potential to save your business thousands of pounds a year.
100% Capital Allowance
Because of its outstanding emission levels, a company purchasing an Outlander PHEV is able to write down 100% of the cost of the car against its profits chargeable for Corporation Tax in year one.
This is compared to a traditional company vehicle where a maximum of 18% per annum of the cost is allowable to write down against the profits chargeable for Corporation Tax. This is reduced to only 8% on vehicles with a CO2 level exceeding 130g/km.
This means that any business with even a small fleet of cars could save tens of thousands of pounds in Corporation Tax in the first year after purchase.
Reduced National Insurance Contribution
Not only will your business save money on Corporation Tax but there will also be a reduction in its associated Class 1a National Insurance Contributions.