What is Car Salary Sacrifice?
Car Salary Sacrifice has quickly become an industry recognised and tax-efficient way of providing employees with a company car or car benefit. The scheme enhances your company’s green credentials by reducing your carbon footprint while generating significant savings in Class 1A NIC. Our Car Scheme is cost and cash flow neutral and free from the risks normally associated with leaver and unpaid leave events such as maternity and long term illness. You are able to decide the parameters for the scheme and can exclude certain segments of the employee population if you wish to. If the salary sacrifice option isn’t right for your company, or if you want to provide a broader range of options for different employees, we also offer a separate Employee Car Leasing Scheme which provides great value car leasing deals for your employees.
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Full administration including enrolment, marketing, risk and compliance
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HMRC compliant documentation
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Low fixed monthly cost with tax and NI savings over 24 or 36 months
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Corporate discounts included in rental
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A wide choice of over 5,000 new vehicles
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Fully maintained vehicles including Road Fund Licence
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Fixed insurance for the period of contract
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Full breakdown cover for UK and Europe
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Fully automated employee quote to order web platform
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Unpaid leave event support and total risk mitigation
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Dedicated employee support including telephone enrolment
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No deposit or credit checks and no cost to run the scheme
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Removal of depreciation risk.
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A Government backed fully HMRC compliant salary sacrifice benefit
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A reduction is made at the gross level of salary, allowing employees to save on Income Tax and National Insurance contributions
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Employees can select cars to be driven by family members
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A Benefit in Kind (BIK) taxation is payable on the benefit of having a company car and is based on the vehicles P11d value and level of CO2 emissions
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Class 1A NIC contributions based on BIK value are typically factored back into the overall calculation making the scheme cash neutral for the employer