Search: Treasury

Published stories matching “Treasury”.

  • The Treasury has confirmed it will scrap mandatory mileage checks for cars under three years old and simplify fleet licensing rules under the Electric Vehicle Excise Duty (eVED) pay-per-mile charge due from April 2028. While fleet and consumer groups welcome the concessions, industry leaders including Electric Vehicles UK CEO Tanya Sinclair and New AutoMotive CEO Ben Nelmes warn the fundamental tax still risks making electric cars more expensive to run at the wrong moment for the transition.

    Why it matters: Charge point operators and fleet procurement teams face continued uncertainty over the policy framework that will shape EV running costs and adoption rates from 2028. The mixed industry response signals that the tax may still dampen demand for electric vehicles among commercial fleets and consumers, potentially affecting utilisation forecasts for charging infrastructure investments.

    United Kingdom13 Jul 2026Source
  • The UK Treasury has rejected a plan by ministers to reduce VAT on public electric vehicle charging from 20% to 5%, according to The Guardian. The proposal aimed to align public charging costs with the 5% VAT rate already applied to domestic electricity, including home EV charging. The decision maintains the current pricing disparity between home and public charging infrastructure.

    Why it matters: The VAT gap makes public charging significantly more expensive than home charging, potentially deterring EV adoption among drivers without off street parking and affecting utilisation rates at public charge points. Charge point operators and local authorities planning public networks must continue pricing strategies around the 20% VAT burden, which impacts business cases for new installations.

    Treasury (uk)United Kingdom24 May 2026 · date approximateSource
  • The Kenyan Treasury has issued open national tenders to lease a minimum of 600 electric and hybrid vehicles for deployment across government agencies, including the National Police Service, Kenya Prisons Service and various ministries. The fleet will include electric 4x2 and 4x4 passenger utility vehicles, double cab electric pickups and hybrid units for on and off road use. A separate tender covers roughly 70 DC fast chargers to support the rollout across government installations, with submissions handled through the new eGP system.

    Why it matters: This marks one of Kenya's largest public sector EV procurements to date, creating immediate demand for both vehicle supply and charging infrastructure at scale. The coordinated tender for 70 DC fast chargers signals that government sites will require rapid deployment of charging hardware, opening opportunities for equipment suppliers and installation contractors familiar with public sector tendering.

    Treasury (ke)Kenya25 Apr 2026 · date approximateSource
  • HM Revenue and Customs will appeal a February First-tier Tribunal ruling that would cut VAT on public EV charging from 20% to 5%, matching the domestic rate. Judge Harriet Morgan ruled in favour of non-profit Charge My Street, citing legislation that defines electricity as domestic use if consumption stays below 1,000 kWh per month at a single premises, a threshold Deloitte says individual EV users rarely exceed. The VAT gap currently generates approximately £85 million annually for the Treasury, according to Zapmap data cited by Fleet News.

    Why it matters: If the appeal fails, charge point operators may file claims for overpaid VAT covering several years, reshaping revenue models and potentially lowering public charging costs. The case challenges a long-standing disparity between home and public charging rates that has drawn sector criticism.

    UK tax authority (uk)United Kingdom23 Apr 2026 · date approximateSource
  • UK Chancellor Rachel Reeves has confirmed that the government will not reduce fuel duty or cut VAT on electric vehicles, according to Professional Driver Magazine. The decision maintains the current tax structure for both petrol and diesel vehicles and EVs, despite ongoing calls from industry groups for fiscal incentives to accelerate EV adoption. The announcement provides clarity on the Treasury's near term tax policy affecting transport and charging infrastructure investment.

    Why it matters: The ruling removes hopes for VAT relief that could have lowered EV purchase costs and charging tariffs, potentially slowing fleet electrification timelines. CPOs and site hosts must now plan infrastructure rollouts without expecting tax led demand stimulus in the immediate policy cycle.

    Reeves (uk)United Kingdom3 Mar 2026 · date approximateSource
  • Chancellor Rachel Reeves has announced a new distance-based tax for electric vehicle drivers in the UK, charging 3p per mile for battery EVs and 1.5p per mile for plug-in hybrids from April 2028. A driver covering 10,000 miles annually would pay £300 under the scheme, which the Treasury says addresses declining fuel duty revenue as motorists switch to electric. The Electric Vehicle Excise Duty will be collected alongside existing Vehicle Excise Duty.

    Why it matters: The new charge adds a predictable operating cost to fleet and public charging economics from 2028, potentially influencing total cost of ownership calculations for charge point operators and their commercial customers. Rural and high mileage users may face steeper bills, which could affect demand patterns at motorway and destination charging hubs.

    Rachel Reeves (uk)United Kingdom10 Feb 2026Source
  • Chancellor Rachel Reeves is reportedly fast tracking plans to reduce VAT on public EV charging from 20% to 5%, matching the rate already applied to home chargers, according to The Telegraph. The move follows industry pressure and concerns that the government's pay per mile road tax, due 1 April 2028, has already slowed EV uptake. The Office for Budget Responsibility forecasts the tax could reduce EV sales by around 440,000 units between November 2025 and March 2031, though the Treasury disputes this, estimating a shortfall closer to 120,000 by decade end.

    Why it matters: A VAT cut to 5% would eliminate the pricing gap between public and home charging, potentially boosting utilisation at public charge points and making the business case stronger for CPOs serving drivers without off street parking. The policy shift also signals government willingness to support public charging infrastructure amid broader concerns over EV adoption rates.

    United Kingdom13 Jan 2026 · date approximateSource
  • The New Jersey Department of the Treasury has purchased multiple EV ARC off-grid solar-powered charging systems from Beam Global through a competitive public bid using the company's GSA Multiple Award Schedule Contract. This marks the third New Jersey state division to deploy the systems, following earlier installations by the Department of Environmental Protection and Department of Transportation. The units generate and store renewable electricity without utility grid connection, supporting workplace charging and energy security for government operations.

    Why it matters: The procurement demonstrates how US state agencies are using federal GSA schedules to accelerate off-grid charging deployments, offering a repeatable model for resilient workplace infrastructure. Beam Global's repeat business across three New Jersey divisions signals growing public-sector appetite for solar-powered, grid-independent charging solutions.

    Beam Global (us)New Jersey (us)United States12 Jan 2026 · date approximateSource