Salary sacrifice is a government backed scheme designed to help employers and their workers save on tax. An employee agrees, with their employer, to give up part of their salary in exchange for non-cash benefits, in this case for Electric Cars!

This means that the employee's gross salary is reduced by the amount they sacrifice. The result is lower National Insurance contributions (NICs) for both the employee and employer.

Salary Sacrifice is a fantastic way for employers to offer an attraction and retention tool for their employees, that is extremely cost effective for both the business and their staff.

With the nature of Salary Sacrifice, there is an element of "sacrifice" for the employee, therefore their Gross Salary effectively drops.  This reduces the amount of Income tax, and national insurance, that the employee pays.  

The idea behind the scheme, is that this gross salary reduction is used to fund a new Electric car, fully insured and maintained, for a significantly reduced rate compared to what a private individual would normally be able to achieve using "tax paid" income.

Salary Sacrifice is technically available for all employees, other than those employees where the "sacrifice" would take them below the National Minimum Wage.  

Most companies have a Policy whereby they offer it to employees that meet certain criteria, such as length of service or their position within the company.  We can assist businesses in writing this policy, to ensure maximum benefit within a well thought out scheme bespoke to that business.

Benefit-in-kind (or BIK) is a tax on employees who receive benefits or perks on top of their salary. If you have a company car for private use, you will have to pay a BIK contribution, or company car tax.

Every car has a BIK percentage banding. This is based on CO2 emissions, and a P11D value, which is the list price, including extras and VAT, but without the first year registration fee and vehicle tax.

Annual mileage is agreed at the outset, with the driver being encouraged to consider the mileage that they expect to do.  Many funders do allow this to be amended should the drivers circumstances change, and this amendment can happen after the agreement has been live for 6 months, and before 6 months to the end of the agreement.  Clearly, this will impact on the lease cost, either up or down, and that will be reflected in the Salary Sacrifice.

The Salary Sacrifice can affect an employees pension, however companies can choose to treat this in different ways.

Fully Comprehensive Insurance is included for the main driver and up to two other named drivers.  This insurance cost is fixed for the duration of the lease, avoiding the ever increasing premiums for drivers.

There are a variety of ways that your company can deal with an employee leaving their position, either for a new job, redundancy or for disciplinary reasons.  We present these options to the business at the outset , and the business can choose their preferred option on how to deal with these scenarios.  There are solutions, meaning a business can operate a Salary Sacrifice Scheme with complete peace of mind.

EV Home Charging Points are not included in the standard pricing, however we can add these to the agreement and cover within the monthly cost.  We work with a Market Leading provider that can supply and install a charging point to your home, and they operate all over the UK.

Maintenance, including all regular Servicing is included within the Salary Sacrifice package.  Replacement tyres are also included, with all wear other than damage/vandalism to tyres being covered, and tyre fitting can usually be done at one of the major chain's.  So for the driver, its just a case of charging the car, with peace of mind that everything else is taken care of!

Absolutely, our Insurance package allows the Main Driver to add up to two additional drivers, with the same level of cover. subject to those drivers being between 18 and 75 years of age.  There are other conditions based on driving convictions etc, we can provide the full criteria on request.

Delivery is included and Free of Charge to the vast majority of areas of Mainland UK