ACCOUNTANT EXPLAINS: How to Buy a Tesla Half Price

[@nischa]

📈 Get a free share worth up to £100 by using NISCHA at checkout or visit: nischa.me/trading212 👉🏽 My Intentional Spending Tracker (free) - nischa.me/intentionalspendingtracker

[@great4ever845]

What's your number?

[@WealthOverFameAndAttention]

what about fuel / hybrid plug in

[@richardcorns8553]

Hi Nischa, I just found your channel and love it. I have 2 Ltd companies, one investment with 4 properties we rent out and a building company. Just bought a Tesla last year, and i was really surprised how much our CT was reduced. Needless to say, my business partner has just bought a new ev through our building company as the savings are so good. Anyway, I have a backlog of your videos to get through! Keep up the good work.

[@ssmumich00]

Brilliant! In the US, lease was the only way for me to qualify for a Taycan, but with some haggling, got $14,500 off of the base. BTW you have a v non accountant vibe which really works for this channel.

[@syeeeed]

Loving your growth! Disovered you with 10k subs and you've changed the game so quickly. Fantastic, easy to digest content and delivered well :)

[@jozefroman2110]

I bought a Tesla from the TSLA gains over last 5 years. 100% off the buy price. 6:43 awesome 🙂

[@Caveman227]

The title is misleading. The tax deductible and benefit in kind is applicable only to company cars

[@JoshHitti]

How is it misleading? It says how to, not how every Tesla owner does it

[@SPYSpreads]

She should have put in title buy cheap or free car as a business owner 🤷🏻‍♂️

[@FMD023]

She was being conservative and I 100% agree with her. She knows what she is talking about because you will end up saving more than half off a Tesla. With an EV grant and rebate I got for buying a 2021 model Y, I am practically paying only 3-4K out of pocket for a 58k car. You are most likely one of those people that will penny pinch hiring a CPA if they charged you $2500 to file your taxes.

[@DI-hd6st]

She knows her stuff, thanks

[@hbgriss]

So make up a company. Ne smart. What do you think 95% of “business owners” do?

[@w00t-w00t]

Great video Nischa. Something to bear in mind if one considers buying a USED EV, is that it won't qualify for the enhanced capital allowance. This means you can't deduct 100% of the vehicle's purchase price against your pre-tax profits. Instead, you can only claim an annual main rate allowance of 18% of the car's value. Another factor to consider is that for ALL EV's, 2% of the car’s value is BiK taxable this year BUT there will be a 1% rise, each year, for the next three years.

[@Thomaat116]

Thank you for making great content! Very informative content presented in such a nice way. Not the "overhype everything" format you see nowadays on youtube 95% of the time.

[@roscopeco2000]

Can you do a video on buying a new EV vs a second hand one? what the tax implications are? I find this subject so very complicated. Also how leasing/ buying out right effects how much you can claim?

[@shafiadnan]

Any findings?

[@reke9942]

Is it weird I'm learning more from Nischa than my actual account I pay for. Awesome video.

[@helgutsa]

Great video! Can you please create a video about buying a house personally vs buying a house through your company?

[@cadmuscassey]

Very well explained in detailed and interesting, I love the buying part of buying a car under a company so the tax is deductible.

[@Dave-bh2zr]

Great clear videos. No waffle or click bait. Very eloquent and it has be said… mesmerising good looks. Wow.

[@mbrechenser2]

That sounds great but don’t forget to mention what you normally do about new car and how they loose 10% as soon as you drive them away from the showroom, then a father 30% in the next 3 years. It’s still obviously worth doing this way if it’s an electric car you need/want.

[@phillip530]

Need to factor in the dividends tax at 8.75% to take out the remaining money from the company which will slightly reduce what is left

[@therichmindset11]

Great Video !

[@juiced009]

Nailed it again...Great advice, Thank you🤩

[@MrAcruz2]

thank you and btw your hair looks amazing

[@patrick7228]

Lol. Loved the eye roll / sigh. The charging time wasted argument always makes me laugh. Scrolling through instagram on your couch for 30 minutes or in your car while it's charging. What's the difference?😂

[@nischa]

Haha I couldn’t resist! 😂

[@arthercasillas2755]

I did push ups while waiting for my Tesla to charge . I felt like waiting for the charge time , was time wasted. Now I listen to audible or do push-ups.

[@littrades7324]

So don’t waste time scrolling on Instagram…the time wasted charging is ridiculous

[@robertalexander6555]

Sounds like you don’t have time management

[@peterowen4456]

Excellent and informative video. It certainly explains, in part, the fact that Tesla's are almost common place where I live.

[@bigdarshan]

They are boring as hell though😢

[@neilthomas6750]

​@@bigdarshan Buy one, you'll soon find out how much fun they are to own. We have two, an M3 and an MY. But I can't wait for when the Roadster comes out. Now that is one quick car

[@bavskijt]

​@@bigdarshan I have a Model 3 Performance, 500 hp at the wheels and handles like it's on rails is hardly boring mate. Each to their own!

[@Mr35000000]

I love everything about Tesla, except their looks. Wish they would make them prettier.

[@adelesonora9681]

Love your videos nischa!

[@AnujJain.YouTube]

Another good explanation from Nischa, keep going.❤

[@nischa]

Thank you

[@alexteape9290]

Buy with a company

[@TheSilentWealth]

Do you foresee changes in the tax deductible schemes? Been trying to do so here, but I realise that it still doesn't change the fact that you still need to spend ~$50k to buy the car doesn't it? It seems like for both scenarios individual and company regardless, the method only benefit someone with a good cashflow i.e. not using loan to buy the car.

[@emmanuelnartey4477]

Thanks,good info

[@AdelitaWilliam-dl7ci]

Thank you for the video!!! We learn a lot with you! Thank you!

[@markbain9290]

Hello Nischa, thank you for your video. Trading 212 is registered in Cyprus: does it mean it is not regulated by the FCA? Are customer deposits FSCS protected? Trading 212 does not charge commission so how does it stay in business?

[@oph1066]

cHECK OUT KZbinrs Damien Talks Money - he explains about the UK arm of 212 that is regulated and that is what you will be accessings

[@mba0073]

There is an issue with T212 that’s quite well documented online - Google it. Most of the funds are actually held in Bulgaria so no FSCS protection.

[@markbain9290]

@@ChrisLee-yr7tz Thank you very much for your reply

[@bigboldbicycle]

Yes as Chris mentions, they make money on the spread. For those who doesn't know what that is, it's the price difference between the price they sell to you and buy back from you. Every broker have spreads, but these commission free brokers have wider spreads to cover their costs. That's a bad thing if you make high value trades, as the spread will eat into your profit. It is a good thing if you make lots of small trades, as you save a lot on commissions.

[@alainedmond3735]

Thank you for these wonderful nuggets. Are they applicable in the states?

[@SavanVyas91]

Best explanation on internet thank you

[@SoundKing]

I was told that you need to have a business for 2 years before you can qualify, is that true? Is there an amount of time you have to have had a business before you can gain from the benefits mentioned in this video?

[@petefraser3013]

My next car is the new Tesla Model 3

[@DaZill07]

The 1000 supercharge points are a nice touch. :) The best type of advertisement is when it's beneficial to all parties :)

[@meady200]

Does the car *have* to be only used for company business though? What if its also in use for social, domestic and pleasure at some points?

[@gnuttz1972]

what i’ve noticed is that electric car schemes through an employer seems like a saving but the costs of the same cars from the leasing company are much higher than on a regular purchase lease scheme which negates the pre tax purchase advantage

[@husseinalbaiaty]

Great video thank you!

[@nischa]

Thank you :)

[@Sean-411]

Nischa, can you share your Trading 212 Pies? I'd be interested I taking a look! Thanks!

[@mikesumray8963]

Thank you for this. I have a limited company, but it only profits approx 40k a year. Let’s say I finance the car or take out a business loan, and the payments are £500 a month. Is this £500 fully tax deductible? So say my corps tax is 6k for the year - I won’t get a tax bill? Thanks 😊

[@therealisticgooner8267]

Just came across your KZbin channel today and am impressed with the ease at which you explain what many find baffling. I’d hire you tomorrow to do my taxes if I thought you would . Can I ask you a somewhat left field question though and I won’t take any answer as qualified just that of an opinion… So a person works for a company as a taxi driver, driving a company owned Tesla on a PAYE basis. There is no charge for the car and you’re even given an allowance to use personally up to 70 miles from your home address in any single journey. However that said you do as the driver / employee have the responsibility to charge the car ( at home or wherever a charger can be sourced) and the cost of this is the drivers. Now I appreciate the cost is 100% tax deductible but is it legal to ask a company employee to pay a company expense ? Yes a contract would have been signed I’m sure but I still think it’s a tad shady , do you agree ?

[@rohanmahmood5806]

I appreciate the way you explained in a simplified manner with a practical written example, great video Nischa, loving the content!

[@therestaurantguru1961]

Great content as always

[@therelovedproject]

Where do you go for a hair cut? Who is your hair stylist?? your hair is amazing

[@thewolverine1913]

I drive a Toyota Taris, been told by many in family to 'upgrade' however taking into account the costs involved in running the car and that I also work from home the majority of the time I don't see the need to change. Especially when its been reliable for so long.

[@Anomize23]

Toyota owner here as well. you’re going to pay more not only for the car but EV owners pay more in registration fees so all in all you’re not gonna save all that much anyway. That’s the part that doesn’t get talked about. You get a little EV incentive and then they slap you with the registration fees later making up for it yearly

[@edmundworrell1864]

Fantastic advice as usual

[@circuittoys]

Great video... unfortunately I'm an employee of a company and have no side hustle that I can use to shield an EV expense. ☹️

[@dannievig]

Probably one of the best YT accounts - so informative. Thank you, again

[@J1mbo197]

Really helpful video , thank you. Q - Does this only work with buying a new car through the company or can a second hand electric car also work this way?

[@8enable]

Thanks Nischa - great info!

[@andrewmaloney9201]

Thank You, Nischa, for sharing this very valuable information which is very useful and helpful to know on considering the tax-saving benefits that will accrue on chosing whether to purchase an electric vehicle over a petrol or deisel engine vehicle for personal or company use!! I totally enjoyed your video presentation. All greatly appreciated!!! 💚💚💚💚💚💚💚💚💚💚

[@okhan21]

Thank you. What about purchasing used electric cars through the company? I know its not 100% tax deductible but do you think its still worth it vs personal purchase?

[@akhere07]

Did you get answer

[@okhan21]

@@akhere07 Nope

[@akhere07]

@okhan21 which country are you from.. Its upto 61000+tax for electric or phev cars and 36000+tax for gasoline cars in Canada.

[@AA-wf2ck]

Subscribed, liked, and listened Great mindset and overall knowledge! Cheers from Kazakhstan 🇰🇿 🎉❤

[@withlovebyads]

Hi Nischa, Thank you for this video. What if your company is registered etc but new and so you have not yet started generating profit (still using part of your salary to build your business)? Can you still buy an electric car under your business and personally make the monthly payments for it? Also, because it is under the company name am I right to assume that it will not go against me and my credit score as personal debt?

[@chhandab]

One problem with this is will you get a car finance under your company name because there is no income under its name yet?

[@hollywoodactress]

Really informative on corporations vs individual. I assume if the company bought the Tesla over 3 years or 4 years , then they would have more income after tax left

[@adnanrashid9522]

Very informative video 👍

[@The_Finance_Guy]

Awesome video keep the great work up 😃👍

[@malcdickinson06]

Great video as always! Is it possible to register a business just to be able to get cars cheaper?

[@amitkakar5827]

Just to be clear the expense you can claim- wouldn’t this be limited to the annual depreciation expense you can claim as the car would need to be capitalized as the perceived tax benefit extends beyond one year and hence you can’t deduct the full $50K in one year

[@EjBlaze1]

I love what you are talking about. I would love to learn more from you about finances period.

[@saturntwelve4121]

Thanks Nischa! Does this apply for US taxes too or only UK?

[@Vmb2000uk]

Hey Nischa, just wanted to say I’ve recently come across your videos and they are incredible!! You explain things really well and make it really easy to understand. Keep up the awesome videos and keep doing what your doing! All the best. Vishal

[@ali5t4ir]

Thank you for yet another great content, I'm wondering if this applies to any Fully Elec cars or just Tesla?

[@cosmodoc]

any!!

[@thewholeshabang181]

Great content with a lovely smiley face😊

[@TheMusicianTom]

This is exactly what I did. Bought a VW ID.3 via my own company.

[@PioneerFoto]

Does this work in the US as well?

[@bitsandblocks7826]

There is another option in UK but relies on your employer to provide it where you buy an electric car through salary sacrifice similar to pension or bike to work schemes. Only for electric cars which then allows you pay lease payments from your gross pay. Saving 40% for a higher rate tax payer. Great video as always 🙂 Same with pension employer benefits as doesn't pay employers NI on the sacrificed salary.

[@ruinunes8251]

Very interesting, I didn't know about it.

[@johnmate4260]

Hi Nischa, does this apply if you buy the car on finance through the company and not outright? Thank you for this valuable information.

[@kirstybonner4286]

Does in Australia through a novated lease.

[@prakashvisits]

Hi Nischa, Such a excellent video. Just one query can we claim VAT which we used pay?

[@iniester6724]

Only if its 100% for business use

[@user-lu3nq3yh2f]

Literally my favourite channel. You absolutely need to start a business mastermind group - paid subscription!

[@WalkingMario]

Nice👍

[@mattcarter-bennett]

Thank you for this video - lots of useful info within. Does the tax break apply to sole traders too or just to limited companies?

[@nischa]

ltd companies

[@msh104utube]

This specific information just applies for the UK, right?

[@FlowJunkie65]

Excellent information. Thank you for sharing. My daughter is considering an electric car and I'm forwarding your video to her.

[@toneperez7925]

u can do that in the UK but in America its way better to write off the miles year after year after year til you dont have the car no more rather than a one time write off.

[@loripage5477]

This is really interesting. Thank you. May I ask please, the benefit in kind hit, is that payable per year or just in the year that the car is bought? Many thanks.

[@nischa]

It’s every year :)

[@shahraxit]

​@@nischa Can the car be written off after a year?

[@Bindi-li5cf]

love this video it gives me hope in one day owning a Tesla!

[@beepdebeep572]

Does this work if you are self employed?

[@ilyasmonia8973]

good question

[@simplydividends]

This is exactly what I did. And of courne on going cots of the car can then be paid via the company too rather than through personal money. It's such a no brainer and when you run the maths it works out so cheap over 5 years. I sold my audi a5 to do this and now I dont have the ongoing costs associated with my old car.

[@chayesey]

Superb video, thank you

[@psolver8147]

Hey Nischa thanks for this amazing vid. Question: does this still apply if if you purchase an electric car on pcp or finance?

[@emmanuelogbe4038]

Many thanks Nischa for another great presentation. Please did you register your company as sole trader or private Ltd company?

[@jlrguy2702]

Slightly incorrect, As of 2025 there will be VED of £165 on all EVs with the addition of a Premium tax of £360 for the first 5 years on new vehicles costing more than £40k, so all Teslas.

[@DrB187]

Talking about BIK, Can you do a video about the pros and cons on salary sacrifice schemes...would be interesting

[@JolitaBrilliant]

This is for UK? Not usa right

[@matthesagregg5679]

hey hey! wow you took the video title preference from your audience! nice!

[@nischa]

Heyy! Always :) thank you for helping!

[@gonnahavemesomefun]

I got my EV salary sacrifice which is pretty much what is described here. Gorss=£800pm, then net £500 but I also save by reducing my gross by another £200. Then I save £500 fuel a month where the electricity costs me approx £20 but then factor in my electricity bill had reduced due to the EV tarriff it costs £0 to run. No tax or consumables to buy and a bit of BIK to pay. All toll I am £200 up each month. I also sold our two ICE cars and pocketed £20k! Was a no brainer for me.

[@premlatha4662]

Very nice Nischa

[@imrannazir6931]

Could you please cover ethical ways of investing?

[@seamusfitz26]

Great video

[@kenneycontracting7814]

Great video!

[@bobbygoodman2875]

Hello...thanks for the advice...what are you doing Saturday night?

[@Trekgalaxi]

Does this only apply in the UK? Can this be done if someone is in Canada?

[@JONRUSS_]

Good video. Not a big deal, but just to mention, there’s an issue with the audio/lag at around 1:18 in case it wasn’t known.

[@Zkilll]

How would you model this under a lease contract (can do different options) the key is how would the company be treating the cost of the monthly cost?

[@jamestony775]

I saw the vote on the title of this vid. I chose Tesla. Reason being is that Tesla is a buzzword with a lot of hype around it, especially on social platforms. In my humble opinion it’s a better video title to attract views and trigger the algorithm. Then in your content in the video you could’ve just said this applies to Tesla and all other electric cars 😊

[@scriptedpixelsltd]

What about leasing It via the business, instead of outright buying?

[@TheCodeConnoisseur]

Whats considered a new Electric Car? Can it be a second hand model from last year and bought through a company? Or does it need to be from a dealership/factory?

[@natakijean-baptiste1746]

Dealership

[@terrywright4211]

SUPER thank you so much

[@rondolbalfour1856]

Always looking forward to Your video all the way from New York ❤

[@nischa]

Thank you. Sending love to NY!

[@oliverdunford3743]

Keep up the good work, this was very helpful as I am just about to buy a Tesla :-)

[@fgj4990]

Thanks for great information. One question I have relates to selling an electric vehicle bought outright through a Ltd company. I understand that the car is taxed on the price of any future sale, but what if the car was part exchanged in the future - is the tax liability based on the sale value of the car at that time or the difference / profit made by the company from the part exchange?

[@jlrguy2702]

On your balance sheet, you would write the PX price of the old car and separately the purchase price of the new car. So that it aligns with the assets held by the company.

[@AR-fy2qo]

She has nailed the sponsorship. Genius.

[@tominfoengnet]

I'm not happy with my accountant here in Florida, so I'm moving to where ever you live and hire you as my accountant. I didn't really hear anything you said, but I'm sure it was accurate.

[@paulevans2246]

Great video thanks. Does the Tesla have to be new or could it be bought 2nd hand and still give the same tax benefits?

[@a.ctlyzer]

Basically new