11:08 am, February 23, 2015
A MITSUBISHI dealership in Bridgend features in a new video campaign for the Mitsubishi Outlander Plug-in Hybrid Electric Vehicle (PHEV).
Nathaniel Cars Mitsubishi provides the backdrop for the video in which accountant Stephen Griffiths explains why he opted for an Outlander PHEV and why he advises clients to do the same.
Stephen, who is the director of DWA Accountants, got his vehicle from Nathaniel Cars Mitsubishi.
He said: ‘It’s a great vehicle for a business owner, whether you’re a sole trader or a limited company.
‘For company car drivers the tax savings are significant. Due to the Outlander PHEV having a five per cent Benefit in Kind rate it means a higher rate tax payer can drive one of these for just over £50 a month, which means saving up to 80 per cent on your company car tax bill.
‘The reaction from clients has been excellent. We ran a presentation where we talked about the tax advantages and cash savings which led to a lot of interest from clients. When we ran the numbers a couple of clients questioned whether they were correct because they were so impressive. On one particular calculation that we did, the savings were coming out at over £5,000.’
The Outlander PHEV also qualifies for 100 per cent First Year Allowance against business profits, as Stephen explained: ‘When a business buys a vehicle they get a tax allowance based on the value of that vehicle. For most company cars the allowance isn’t particularly attractive but with the Outlander PHEV you are able to write off the entire cost of the vehicle in one year.
‘So on a £30,000 vehicle you are reducing your taxable profits by £30,000, which for a company means a saving of £6,000.’
A film crew of seven, including presenter Ruth Frances, spent the day with Stephen, filming him at Nathaniel Cars Mitsubishi in David Street and on a drive to a business meeting.
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