The BIK tax rates that were published last year have been confirmed. This means huge savings for fully electric and plug-in hybrid models.
From 6 April, fully electric cars will incur 0% in 2020-2021, 1% in 2021-2022 and 2% in 2022-2023. The rate will be frozen at 2022-2023 levels for a further two years – that could lead to savings of several thousands of pounds over a three-year cycle for an electric vehicle vs. a petrol or diesel equivalent.
Plug-in hybrids with an electric range between 30-39 miles – such as the All-New XCeed PHEV, Ceed Sportswagon PHEV and Niro PHEVs – will incur BIK rates of 10% in 2020-2021, 11% in 2021-2022 and 12% in 2022-2023 – that’s less than half the rate of a regular petrol or diesel car that emits just 100g/km.