Porsche Taycan Means Business

Posted 22nd January 2024

2 minute read

Benefit from the 100% first-year Write Down Allowance on a new Porsche Taycan.

The financial year-end is fast approaching and there is no better time than now to consider those all-important financial decisions - perhaps with the inclusion of a brand-new company vehicle.

The all-electric Porsche Taycan makes for an intriguing financial and emotional choice. The multi-award-winning Porsche Taycan epitomises the essence of a Porsche electric sports car, possessing striking proportions, timeless and instantly recognisable design, and unites performance with everyday usability. So, unsurprisingly, for the third year running the Taycan Cross Turismo is named the WhatCar? Best Performance Car (new), alongside the Porsche Taycan as the Best Electric Performance Car (Used).

Porsche Taycan Sport Turismo

Benefits through your business

In the UK, businesses can take advantage of a 100% first-year allowance for new electric vehicles until April 2025. The complete cost of the Porsche Taycan can be subtracted from your taxable profits in the year of acquisition. The Write Down Allowance (WDA) provides a pathway for tax relief, delivering substantial savings for your business.

Alternatively, the Lease Rental Restriction (LRR) option permits businesses to deduct lease payments for a new Porsche Taycan from their taxable profits. However, it's crucial to note that LRR doesn't enable a full deduction of the vehicle's cost, unlike the WDA. Deductions are limited to the lease payments made during the accounting period.

Porsche Taycan Business

So, which route best supports the tax efficiency objectives of your business?

Here are some considerations to assist your decision-making:

  • WDA is especially beneficial for businesses looking to retain ownership of their Porsche Taycan and seeking immediate tax relief by deducting the full cost in the year of purchase.
  • LRR may be favourable if your business admires the flexibility of leasing a Porsche Taycan and intends to deduct leasing costs from taxable profits over the lease duration.

​It's essential to seek advice from a tax advisor or an accountant familiar with UK tax regulations. They can offer personalised guidance tailored to your specific business needs, financial objectives, and the latest tax laws and allowances.

If you intend to use your Taycan for both business and personal purposes, there are additional advantages to be gained. You can maximise the benefits of the 2% Benefit-in-Kind tax until 2024/2025, leading to substantially lower personal taxation costs compared to equivalent petrol or diesel-powered vehicles.

Porsche Taycan Charging

The Porsche Taycan - Made For Business

The Porsche Taycan is available in three body styles - Saloon, Sport Turismo, and Cross Turismo, so the Porsche Taycan can fit seamlessly into any lifestyle.

The Performance Battery Plus in the Taycan ensures that even distant destinations are easily accessible, providing a generous range of 258 - 304 miles*. This minimises disruptions in your journey by reducing the need to stop and charge frequently. 

For on-the-go charging during your daily activities, the Taycan's 800-volt architecture delivers a charge power of up to 270kW. Under optimal conditions** the Taycan can add up to 60 miles (WLTP) of range in as little as 4.5 minutes.

Porsche's commitment to performance is embodied in the Taycan. The Taycan Turbo S model accelerates from 0-62mph in just 2.8 seconds with Launch Control and boasts an impressive total power output of 761 PS.

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For more information, please contact your local Porsche Centre:

Porsche Centre Bristol -
01173 216 780

Porsche Centre Newport - 
02920 606 512

Porsche Centre Swindon - 
01793 398 525

Porsche Centre Tewkesbury - 
01684 880 104

*Performance Battery Plus is not standard on all models.

**WLTP test combined range for the Porsche Taycan 4S Cross Turismo. Range quoted is for comparison only and may vary in real-world driving conditions.

***Optimum conditions: CCS fast-charging pedestal with >270kW, >850v, battery temperature 30°C to 35°C and initial charge status 5%.

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