ABOUT THE CAR SCHEME
A Salary Sacrifice scheme, employees can exchange a portion of their gross salary in return for a brand new car of their choice. It provides employers with a no-risk approach to offering a worthwhile and meaningful benefit to employees, with little administration. Available protection against maternity, paternity and sick leave, as well as redundancy and resignation.
The scheme is also carbon neutral, which is great for meeting environmental obligations. Available to all employees earning above the National Living Wage.
COMPANY BENEFITS
SAVE ON YOUR EMPLOYER NI CONTRIBUTIONS FOR LOW EMISSION CARS
BESPOKE RISK MITIGATION PROTECTIONS AVAILABLE
EMPLOYERS DO NOT NEED TO PROVIDE CONSUMER CREDIT TO EMPLOYEES
SUPPORTS GREEN CREDENTIALS, PROMOTING USE OF ULTRA LOW EMISSION CARS
ASSURANCE THAT VEHICLES ARE INSURED AND MAINTAINED
SELF FINANCING SCHEME
EMPLOYEE BENEFITS
SAVINGS ON TAX & NI THROUGH SALARY SACRIFICE
HUGE SAVINGS ON ULTRA LOW EMISSION VEHICLES
SUBSTANTIAL SAVINGS ON COMPREHENSIVE INSURANCE
INCLUDES INSURANCE, MAINTENANCE, ROAD TAX, BREAKDOWN, SERVICING & TYRES
MANAGE MONTHLY OUTGOINGS WITH FIXED REGULAR PAYMENT
NO INITIAL DEPOSIT OR CREDIT CHECKS
EXAMPLE COST & SAVINGS
ULTRA LOW EMISSIONS VEHICLE: NISSAN LEAF 40 kWh
Taxable List Price: £28,440.00 CO2 Emissions: 0
MONTHLY COSTS & SAVINGS FOR A BASIC RATE (20%) TAX PAYER
GROSS RENTAL: £378
TAX SAVING (BASED ON 20%): -£76
NI SAVING (BASED ON 12%): -£50
PLUS COMPANY CAR TAX (BIK): £9
NET COST TO YOU: £262
FIGURES QUOTED FOR GUIDE ONLY. CORRECT AT FEBRUARY 2023. E&OE