Salary sacrifice
Salary sacrifice is the name of a highly tax efficient way for a company employee to gain access to a new electric car – for a discounted price.
The scheme, approved by HMRC, allows employees to choose an electric vehicle and pay for it via a salary sacrifice scheme, set up by their employer. Payments for the vehicle are deducted from a person’s gross salary, avoiding the payment of income tax on the amounts paid towards the vehicle.
Benefits for employers
Explore the number of benefits going electric can have;
01
offer your staff a zero emission company car with impressive Benefit in Kind (BiK) tax savings
02
demonstrate your commitment to decarbonising transport and reduce your company’s carbon footprint
03
ensure staff have newer, more reliable vehicles – fewer breakdowns and disruptions
04
reduce corporate fuel bills
05
enhance your company’s look and reputation
06
A salary sacrifice scheme is easy to set up and administer – ask us for more details
Benefits for employees
Explore the number of benefits going electric can have;
01
lease a car for far less than if you funded it personally
02
enjoy a new car, with a full manufacturer guarantee – and no MOT test to pass for 3 years
03
monthly payments come out of your pre-tax salary, reducing your tax and National Insurance deductions
04
peace of mind with breakdown and maintenance cover
05
includes fully comprehensive insurance
06
contribute to reducing emissions in your locality
