[E7EV]

Evezy have announced the arrival of a large number of new Zoes that will be joining their fleet in March. Currently they are offering these to existing subscribers and those on their waitlists. After that they will appear on their website along with the other vehicles that they offer.

They are offering the Iconic and GT Line, both with the R135 motor and CCS.

I’ll post more details once this has gone public. But in the meantime, why not sign up so that you are ready as soon as the Zoe is available. You could use my referral code to show your appreciation for me bringing you this scoop. £50 for you off your first subscription, and £50 for me. Win win.

 

[Metcast]

There are quite a lot of lease deals on the ZE50 so if you know you're going to keep it for 2 years, that would be the better option. Prices were ranging from £5.5k to £6.3k for 2 years.

 

[E7EV]

There are quite a lot of lease deals on the ZE50 so if you know you're going to keep it for 2 years, that would be the better option. Prices were ranging from £5.5k to £6.3k for 2 years.

Agree. But some people prefer to only committing to one month rather than 24. That is evezy’s usp. It’s great for those who want to try before they buy. As it’s all inclusive, those with high insurance premiums can actually find it’s cheaper with evezy. That’s my case. I couldn’t have got and run a secondhand car any cheaper. Thanks to some referrals, I’ve only paid the equivalent of £4.5k for a Zoe R110 for 2 years. That includes insurance, maintenance and a Polar Plus card.

 

[DrEskimo]

Thanks to some referrals, I’ve only paid the equivalent of £4.5k for a Zoe R110 for 2 years.

'Some'...??

It was £289 for the Zoe, which over 24m is £6,936. If you've only paid £4,500 that means you have had around £2,400 worth of referrals, which at £50 each is 48!

That's a bit more than 'some'!

 

[E7EV]

'Some'...??

It was £289 for the Zoe, which over 24m is £6,936. If you've only paid £4,500 that means you have had around £2,400 worth of referrals, which at £50 each is 48!

That's a bit more than 'some'!

I was being modest! Only had the car for 12 months so just doubled up to compare with figures the other poster gave.

 

[E7EV]

Evezy will be getting ZE50s in a range of colours rather than just the standard white. When you’re allocated a car, you’ll be given a choice of between whatever colours are available at that time.

 

[FaisM11]

One factor that most aren’t considering when comparing to a lease deal is the upcoming salary sacrifice scheme. If you look at the £419 cost for the GT line, and multiply it by what’s left after your tax/NI/student loan/pension cont savings you’re talking a small amount. For me I’m paying 55% which is £231pm! No BIK in the next tax year and very low in the 2 years after but let’s see what the budget in a few weeks tells us.

 

[cah197]

I’m sure EVEZY do corporate accounts?

 

[E7EV]

One factor that most aren’t considering when comparing to a lease deal is the upcoming salary sacrifice scheme. If you look at the £419 cost for the GT line, and multiply it by what’s left after your tax/NI/student loan/pension cont savings you’re talking a small amount. For me I’m paying 55% which is £231pm! No BIK in the next tax year and very low in the 2 years after but let’s see what the budget in a few weeks tells us.

Could you explain all that in layperson’s terms. It looks quite interesting! Where are you in the GT Line Waitlist?

 

[FaisM11]

Could you explain all that in layperson’s terms. It looks quite interesting! Where are you in the GT Line Waitlist?

If your employer allows, you can deduct the cost of the monthly Evezy subscription from your gross salary.

This means that say you’re £24k or £2k per month gross. You would pay monthly tax of £192 (20%), NI of £154 (12%), auto enrolment pension of circa £60 (4%), in my case student loan deduction of £35 (9%). This means net pay monthly of £1,561 less £419 to Evezy meaning you are left with £1,142.

If you took the car out of your gross salary, then in my made up example above , your gross pay would actually be £1,581, you are then taxed on this amount as above, I won’t put the numbers here but at the end of the month you will have net pay of £1,327.

This is £185 better off, which is based on the £419pm subscription a saving of 44% (in my made up example I go below student loan threshold using salary sacrifice otherwise saving is 45%. For most people the saving is at least 32% and 36% if you pay auto enrolment pension (this may not be classed as an actual saving because you’re not paying into your pension and benefitting from the government topping you up).

Now, the government do tax salary sacrifice for cars with Benefit in Kind Taxes but for EVs this is 0%/1%/2% for the next 3 tax years. When it goes to 2% in 22/23 the monthly amount you are taxed on is £55 (£55x20% for basic rate payers so £11) based on the GT line’s P11d value of £32,815.

Of course there’s a budget soon and we need to see if this stays the same.

Please also note the above does not constitute professional advice, it’s always worth speaking to an accountant. The info is all freely available online:

Company Electric Car Tax | Pod Point

The complete guide to company electric car tax, covering what a company and employee need to contribute and how it is calculated.

pod-point.com

To note that not all employers will offer this. If they don’t, there’s no harm in asking as the employer also saves 12% National Insurance contributions too although once the BIK rate goes up the company pays 13.8% P11d tax (Class 1A NICs) but only on the BIK value which in my example for 22/23 is £55pm or £660 x 13.8% so £91 basically peanuts!

I understand that’s a lot but look into it and feel free to ask questions on it and I’ll try answer in evenings.

PS I’m in top 100 is all I’ll say.

 

[TiJayFLY]

All well and good if you don't change employers or car that often

I'll take freedom and a higher cost over anything that ties me to a single company, cheers

 

[FaisM11]

@TiJayFLY you’re half right there. For now, we don’t know the structure of Evezy’s salary sacrifice scheme. If it’s like their whole model ie monthly, then your negative points are negative no more.

You could in theory also move to a new employer and move the subscription back to you personally and then to a new employer if they allow. So in my opinion there is nothing to lose, the most I’ll pay is what you pay, though I’ll likely pay much less utilising our country’s tax system and incentives, but again pending specifics from Evezy.

 

[cah197]

@TiJayFLY you’re half right there. For now, we don’t know the structure of Evezy’s salary sacrifice scheme. If it’s like their whole model ie monthly, then your negative points are negative no more.

You could in theory also move to a new employer and move the subscription back to you personally and then to a new employer if they allow. So in my opinion there is nothing to lose, the most I’ll pay is what you pay, though I’ll likely pay much less utilising our country’s tax system and incentives, but again pending specifics from Evezy.

Sounds ideal for an employer. If the employee leaves then they can hand the car back.

Employee still gets the benefit of salary sacrifice.

 

[phproxy]

Deleted due to conflicting info online..

Basically can you still claim 45p/mile if you have go with a salary sacrifice scheme?

 

[cah197]

Deleted due to conflicting info online..

Basically can you still claim 45p/mile if you have go with a salary sacrifice scheme?

If the car is provided for you by the company, then no. You can only use the 45p per mile for using your own car (or whatever your employer deems below that figure).

 

[TiJayFLY]

Can you imagine the foul-ups that would occur trying to move a scheme between employers? If Doris in Payroll doesn't f*** it up, Evezy or the muppets at HMRC will.

I stand by my statement that if you're staying with one employer for a long time, this'll work. If you move around, it'll probably cost you more in £ and certainly cause a lot of stress through others' mistakes!

 

[phproxy]

I get the tax free part. But if it's classed as a company car (which I think it is once you do a salary sacrifice?), then you lose the 45p/mile and can only claim 4p/mile? I may have it totally wrong (I hope I have).

Ball-park figures for £50k salary 10k miles per year:

Based on sacrificing £4710 per year (closest annual figure to evezy's monthly cost on this sacrifice site) for a £50k earner:

The car would cost you £3203.28 per year. You could claim £400 (10k x £0.04).
Total cost = £2803.28

Private:
If you got one privately through Evezy which cost £4710 per year / £392.50 per month. You could claim 10k miles @ 45p per mile. £4500. Total cost £210.

 

[DrEskimo]

I believe the important distinction is that you can only claim the 45p/mile if you are commuting for business use outside your typical commute. You can't claim 45p back just for going to and from the office each day, can you?

On the other hand, a company car can be used for your daily commute, so you get the benefit regardless.

I guess it depends on the nature of the 10k miles you are driving?

 

[phproxy]

Good points, very true.

 

[RiverRock]

I thought you saved on the NIC but that you now had to pay income tax on salary scarified cars? Ref: https://www.rac.co.uk/business/news-advice/what-is-a-salary-sacrifice-scheme which makes it almost not worth bothering?