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Benefit In Kind On Electric Cars 2024/25. Benefit in kind (bik) taxation is lower on electric cars than it is on hybrids, and is massively lower than petrol and diesel cars. Electric cars, with zero emissions, fall into the lowest benefit in kind tax band, resulting in lower tax liabilities for employees.
For both the 2022/23 and 2023/24 tax years, the benefit in kind for an electric vehicle is set at 2% of its manufacturers list price, making it highly competitive when compared to. Consequently, the lower the benefit tax charge for employees, the lower your associated class 1a national insurance bill.
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