Employer Benefits

Savings Your Employees Will Love

• Generate an average employer saving of 13% to 14% of the salary sacrificed.
• Provide enhanced employee benefits at no additional cost to the company – improving the ability to recruit, reward, and retain employees.
• Encourage cash allowance takers back into company cars.
• Reverse adverse ‘grey fleet’ issues by reducing the cash allowance population.
• Boosts employee satisfaction and retention, while providing an incentive to potential new employees - Encourage loyalty by offering your employees the chance to acquire a brand-new car - fully insured and maintained - with considerable savings over traditional personal finance methods. The scheme may also benefit in recruiting new employees, who might be looking for an employment package with several benefits.
• Improve your carbon footprint, business reputation and corporate social responsibility credentials - By encouraging your employees to select low
  and zero-emission cars, you will improve your business’ sustainability credentials.
• Lower your fuel costs.
• An easy schemes to set up and manage.
• Lower Whole Life Costs - Electric vehicles can have higher initial costs, but employees can reap the rewards of long-term savings. With lower BIK tax, and as NIC and income tax are no longer applied to employees’ sacrifice, the benefits of choosing an EV can outweigh the costs in the long run.
• Charging Convenience - With home and workplace charging options available, your employees can have the advantage of being able to refuel their EV wherever they are. The growing on-the-go charging network means your employees are never far from a charging point, too.
• Lower emissions mean lower BIK tax - As BIK tax rates incentivise lower-emission vehicles, drivers can save thousands of pounds during the life of their vehicle by choosing an EV instead of a combustion engine vehicle.

*BIK rates vary by CO2 emissions and electric-only range. Figures shown are indicative only, and based on the most common currently available vehicles of this type.

Considerations for the employer

“Our scheme takes care of all of these for you”

• Employee eligibility and impact on state benefits.
• What happens if the employee leaves?
• Contract terms, including annual mileage.
• Motor insurance. Using a Fleet policy could reduce cost but affect employee tax savings.
• Payroll and tax reporting.
• Level of savings available.
• End of contract recharges.
• Possible impact on credit lines and balance sheet.
• Workplace charging.
• In life Fleet Management & Duty of Care Implications
• HMRC Scheme clearance is not required providing the scheme follows the rules