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Understanding EV Grants & Incentives in the UK: What to Expect in 2024 and 2025
As we head into 2024 and 2025, the excitement around electric vehicles (EVs) is showing no signs of slowing. From more affordable models hitting the market to stronger charging infrastructure, now is a great time for UK drivers—especially younger professionals—to explore the benefits of going electric.
But one of the biggest questions on everyone’s mind is: what financial support is still available for EV buyers in the UK? While the landscape is changing, there are still plenty of opportunities to save—if you know where to look.
The Shift from Grants to Tax and Ownership Incentives
The UK Government’s Plug-in Car Grant (PICG) officially ended in 2022, but several new and continuing incentives are designed to make electric vehicles more accessible. These include:
Reduced Vehicle Excise Duty (road tax) – Currently, EVs are exempt, though this will change from April 2025.
Benefit-in-Kind (BiK) tax relief – Especially relevant for company car drivers, the BiK rate for EVs is just 2% until 2025.
Home Charging Grants – Available through the EV Chargepoint Grant, offering up to £350 off the cost of installing a home charger (for flat owners or renters).
Workplace Charging Scheme (WCS) – Helps employers subsidise the cost of workplace charge points.
ULEZ & Clean Air Zone (CAZ) exemptions – EVs are exempt from London’s ULEZ and similar clean air charges in cities like Birmingham and Bristol.
Eligibility Based on Income and Usage
While the UK doesn’t have a federal tax credit system like the US, many financial benefits are indirectly influenced by income, driving habits, and employment status. For instance:
If you’re a higher-rate taxpayer choosing a company car, opting for an EV can slash your tax bill thanks to low BiK rates.
If you regularly drive into urban zones, an electric car could save you hundreds per year in congestion or emissions charges.
If you rent or live in a flat, the EV Chargepoint Grant helps cover the installation of a home charger—something not available to every homeowner.
Which EVs Are Worth Watching in 2024–25?
While the number of EVs eligible for upfront discounts has shrunk, competition in the market is booming, driving down costs and boosting innovation.
Models to watch in the UK include:
MG4 EV – A surprisingly affordable hatchback with great tech and range.
Tesla Model Y – Now produced in Europe, prices are falling, and it remains a top performer.
Hyundai Ioniq 5 & Kia EV6 – Stylish, efficient, and popular with UK buyers.
Renault Scenic E-Tech – Launching in 2024, expected to be one of the most family-friendly electric SUVs.
Cheaper Chinese EVs – Brands like BYD and ORA are entering the UK market with low-cost models that meet European standards.
Always check with your local dealer or manufacturer for the latest offers, grants, or fleet leasing schemes—they can vary regionally and change quickly.
Upcoming Changes to Watch
From April 2025, several changes will affect EV ownership in the UK:
Road tax exemption ends – EVs will start paying Vehicle Excise Duty like petrol and diesel vehicles.
Company car tax rates may rise – BiK rates for EVs are scheduled to rise slightly, but they’ll still be far lower than for traditional vehicles.
Charging infrastructure expansion – The Government continues to invest in rapid charge networks, which will increase convenience across the country.
These changes make 2024 an ideal window to make the switch, while the incentives are still in place.
Maximising Your Savings: Practical Steps
Here’s how to get the most out of EV ownership:
Go electric before April 2025 to take advantage of road tax exemptions.
If you’re a company car driver, choose an EV to reduce your tax liability.
Claim the EV Chargepoint Grant if you live in a flat or rental property.
Explore salary sacrifice schemes—many employers now offer EV leasing with tax benefits.
Use government-approved tools like the Zap-Map to plan your charging strategy and avoid surprises.
Conclusion: A Smart, Sustainable Financial Move
As the UK moves closer to its 2035 ban on new petrol and diesel car sales, electric vehicles are no longer a futuristic option—they're a financially sound and environmentally responsible choice. Whether you’re driven by cost savings, sustainability, or cutting-edge tech, going electric in 2024 or early 2025 could help you save money and reduce your carbon footprint.
The road ahead is electric—so why not get ahead of the curve?
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