New Car Tax Rates 2024/24. On 25 january 2024, the government announced changes to individual income tax rates and thresholds from 1 july 2024. For all fully electric cars on sale, the bik rate is just 2% during the 2022/23 tax year at which it will remain during 2023/24 and 2024/25 (see table below).

This means you can make considerable tax savings when choosing an ultra low emission vehicles. But, as this guide will show, there’s a bit more to it than just that.