The End of the Electric Car Free Ride
Well, folks, the honeymoon period for electric vehicle (EV) owners is officially over. For years, driving an EV meant enjoying a whole host of financial perks—zero road tax, government grants, and lower running costs. But as of now, that’s changing, and fast. If you’re an electric car owner, it’s time to brace yourself for a financial reality check.
Starting this year, for the first time ever, EVs will no longer be exempt from Vehicle Excise Duty (VED), better known as road tax. This means that if you’re driving an EV registered after April 1, 2017, you’ll be paying £195 annually—no more free rides. And if you’re buying a brand-new electric vehicle? The first-year tax may be a mere £10, but after that, you’re looking at the full charge.
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But the real sting comes for those who own or are considering a premium electric car. If your vehicle had a list price of over £40,000 when new, you’ll be hit with the dreaded Expensive Car Supplement. This means you’ll have to pay an extra £425 per year on top of the standard rate, and that hefty charge will last from the second year of ownership all the way through the fifth year. So, if you were thinking of picking up a high-end Tesla, Porsche Taycan, or even a luxury EV SUV, that’s an extra financial burden you can’t ignore.
Now, let’s talk about the bigger picture. The government initially pushed EV adoption by offering incentives to get people to switch from petrol and diesel cars. But with electric vehicle sales on the rise and road maintenance costs ever-growing, the Treasury wants a slice of the pie. And honestly, this was inevitable—no government was ever going to let an entire category of car owners avoid road tax forever.
So, what does this mean for EV drivers? Well, the cost of ownership is going up, and it’s happening quickly. If you’ve been on the fence about making the switch to electric, these new tax rules might make you think twice. For current EV owners, it's time to factor this into your running costs. It’s also worth keeping an eye on future changes because, let’s be real, this is probably just the beginning.
One thing’s for sure—driving an EV in the UK just got a whole lot more expensive. Whether this slows down the transition to electric cars or just forces automakers and policymakers to rethink strategies, only time will tell. But for now, enjoy the ride—while you can still afford it.
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