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Discussion Starter #1 (Edited)
Hi

(first post here just after a bit of advice)

I'm looking to get an i-pace next April through my business with the benefit in kind going down to 0%.

Would the OLEV £3500 grant be still applicable on the vehicle, even if I don't own it myself. I presume the lease company (jaguar contract hire) will still be eligible. Current quotes I'm getting from Jaguar show taxable list price without the £3500 grant.

Many thanks for any info or a point in the right direction :)
 

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Welcome!

The plug-in* (not OLEV) grant is used to offset the lease cost - but not the list price of the car you declare to HMRC.

So not exact but it's: Purchase price - £3,500 - GFV (Guaranteed Future Value) + some operating costs etc. to give an amount that would be broken down into your total lease cost.
Note the purchase price does not have to be the 'list price' - it might be a discounted amount by the lease company.

They have to show the taxable list price without any grant as that's the value you declare to HMRC for taxation. So even if your company did a one-off purchase of a £35,000 (list) BEV for £28,000 including plug-in grant - you as the driver still have to declare £35,000 minus 1st yr tax (£0) and registration fee (£55) = £34,945. This is otherwise known as the P11D value.

My companies chosen lease company was being a bit frustrating by not adding in the plug-in grant discount correctly so cars would not fit into my capping, hence learning about this.
 

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Discussion Starter #3
Welcome!

The plug-in* (not OLEV) grant is used to offset the lease cost - but not the list price of the car you declare to HMRC.

So not exact but it's: Purchase price - £3,500 - GFV (Guaranteed Future Value) + some operating costs etc. to give an amount that would be broken down into your total lease cost.
Note the purchase price does not have to be the 'list price' - it might be a discounted amount by the lease company.

They have to show the taxable list price without any grant as that's the value you declare to HMRC for taxation. So even if your company did a one-off purchase of a £35,000 (list) BEV for £28,000 including plug-in grant - you as the driver still have to declare £35,000 minus 1st yr tax (£0) and registration fee (£55) = £34,945. This is otherwise known as the P11D value.

My companies chosen lease company was being a bit frustrating by not adding in the plug-in grant discount correctly so cars would not fit into my capping, hence learning about this.
Thanks for the primpt reply and info, very useful indeed :):)
 

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There are rumors the OLEV grant will be reduced or removed in the near future!
i have an Etron or order (business contract hire) and I’ve been told by Audi that if the grant is pulled prior to delivery then then my payments will increase as they allowed for the grant in my quote! (When the grant was reduced last time they let you claim the grant if the car was ordered before the announce the and delivered within 9m)
i also have a Porsche Taycan on order and Porsche are not including the grant in my PCP as it currently hasn’t got OLEV grant approval, they say they will get confirmation January!
 

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Discussion Starter #5
That's interesting, I was told by Jagauar (who the contract hire is directly with), they would honour the price as long as they had a nominal refundable deposit down. If it decreased further they would also reflect that, but not an increase.

But after what you've stated I'll get clarification around the grant aspect as well and if that would impact the cost.
 

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I think Audi are just being precautionary, I don’t want the car till May (as that’s when my other lease ends) but if the grant gets pulled as long as he deposit is in place I’m sure the grant will be held
I’m not sure about cars that don’t have the grant in place yet ! Like the Taycan
 
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