TMC EV Rates

Our analysis shows that the government’s Advisory Electric Rate (AER) of 5p/m is insufficient for many electric vehicles.

Our data team have calculated the cost per mile for each electric car available in the UK when charged at home. These are updated every quarter and this rate can be used to reimburse your drivers.
The calculations are based on the manufacturer’s published WLTP figures, with a 15% adjustment to account for real world driving. We have used the kW/h rate of 19p published by the department for Business, Energy and Industrial Strategy (BEIS) for the home charging costs.

We have also calculated the cost per mile for electric vans. The research shows that almost all electric vans aren’t covered by HMRC’s advisory electric rate even with the increase from 4p to 5p and most electric van drivers will be left out of pocket based on these figures.

The van figures are also calculated using the BEIS published kW/h rate of 19p and based on the manufacturer’s published WLTP figures, with a 15% adjustment to account for real world driving.

For more information on the quarterly TMC EV rates, or our EV reimbursement options, please get in touch.

 

We are on a mission to make business mileage reimbursement simple for businesses and electric vehicle drivers.  To find out how we can help you reimburse electric vehicle drivers for business mileage, click here.