Discover how employees can drive a brand-new Electric Vehicle for less, while businesses strengthen benefits, retention and sustainability goals.
EV salary sacrifice allows an employee to exchange part of their gross salary for a fully inclusive electric car.
Like cycle-to-work, childcare schemes and pension contributions, the reduction is taken before tax, which means employees pay less Income Tax and National Insurance and can also benefit from the VAT reclaims the business is able to make.
In return, they receive a brand-new electric vehicle on a fully maintained lease with insurance.
Because electric vehicles benefit from a significantly lower Benefit-in-Kind rate than petrol or diesel cars, the overall cost to the employee is significantly lower than funding the same vehicle via PCP or PCH.
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In simple terms:
There is no charge to set-up, administer or manage the scheme so it is typically cost-neutral to the employer - although it can generate National Insurance savings for the business, depending on how it is structured.
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That depends on what you want you exactly want to achieve and how the salary scheme is structured.
For businesses across Essex, Suffolk and Norfolk, we usually see several key areas of focus.
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We get asked this question alot ... and the simple answer and perhaps surprisingly is absolutely Yes!
EV Salary Sacrifice isn't just for large corporates with HR departments and fleet teams and hundreds of employees. In reality, SME's tend to be more agile ... have better internal communications and fewer layers to penetrate when communicating the presence and benefits of a scheme ... add to this your local provider on your doorstep in Essex and you'll find uptake will generally outweigh those of larger organisations - magnifying the results and desired outcomes even more for those businesses.
As we are not a large and rigid national provider our schemes can be flexible and tailored to suit each business ... it doesn’t need to be complicated and you don't need additional internal resource to promote and manage the scheme
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These articles will provide more information on how an EV salary sacrifice scheme can work and benefit a smaller business
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