The advantages of charging company EVs at home

Whilst we’ve already talked about the benefits of offering EV charging at your workplace, there are also some great advantages of providing your business EV drivers with EV chargers at their homes. We call it ‘return to home’ charging and it’s a service that is becoming increasingly popular with businesses. Let’s explore why!

 

Reimbursement Options for EV Charging

Businesses can reimburse their EV company vehicle drivers in several ways. Options include:

 

1.Per mile reimbursement: Paying HMRC’s advisory rate of 10p per mile for business travel.

2.Charge cards: Providing charge cards for public chargers.

3.Expense reimbursement: Covering expenses for using public charging points.

4.Home charging reimbursement: Reimbursing the cost of electricity used for home charging.

 

Cost efficiency

 

Given the current high cost of electricity, paying by mile might not actually reflect the true cost of using public chargers. That’s what makes offering home chargers a very attractive option. Not only is home electricity cheaper than public charging, it also allows you to reimburse your employees for the exact cost of the electricity they use. This takes the stress away from employees who might be worried that their new EV will dramatically increase their home energy bills.

 

Tax benefits

 

Previously, HMRC considered reimbursing the charging of a company EV as taxable income. However, this has changed. Home charging for electric cars or vans now falls under an exemption to the Income Tax (Earnings and Pensions) Act 2003. Therefore, provided the electricity is used solely for charging the company vehicle, reimbursements for home charging are not taxable.

 

It’s now simpler than ever to separate out electricity used for car charging from an employee’s domestic energy bill. This allows employees to automatically be reimbursed the correct amount for charging a company car at home.

 

Additionally, there’s no taxable benefit if an employer pays for installing an EV charging point at an employee’s home. While home charger installation grants have ended, employees living in flats or rented properties can still apply for the OZEV grant. As an OZEV-authorised installer, Plug Me In can claim the grant on their behalf. Learn more about the OZEV grant. 

 

Strategic advantages

 

Offering home EV charging is a smart move for any innovative business. Partnering with Plug Me In ensures a smooth transition for your employees, reducing costs and enhancing efficiency. And because our charging units can be provided on a service contract, if one of your drivers changes job, the EV charger can be reclaimed.

 

Let us help keep your team charged and ready for the road ahead with return to home charging. Get in touch to find out more today.

 

Suggested further reading

• When should fleet managers switch to EVs and how to plan the transition
  
• Customised Charging: Tailoring Tariffs for Workplace EV Infrastructure
• How EV charging at your workplace adds incredible value