Salary Sacrifice - What is it?

• It’s a tax efficient way for you to provide ultra low emission cars to all of your employees, even those who were not previously eligible for a Company Car.
• It’s an attractive addition to any flexible benefits scheme.
• It can be a cost-effective way to improve your green credentials and corporate social responsibility profile.
• Salary Sacrifice is NOT a personal lease between funder and individual
• Credit underwriting is carried out on the employer and not the employee

How does it work?

A salary sacrifice scheme is possibly the most advantageous way to offer electric cars to non company car drivers. Salary sacrifice for cars works best for ultra-low emission cars, and zero emissions cars offer particularly impressive savings because BiK percentages are capped at a maximum of just 2% until April 2025. CBVC arrange a lease of a zero emission company car on corporate terms (a contract hire arrangement) to you, your employee sacrifices from their gross salary to pay for that car (usually including insurance), getting the security of a brand new environmentally friendly company car, and the tax, NIC* and HSCL** saved on the sacrifice should be greater than that paid on the benefit offering savings to both employees and employers.

What do you get by introducing a scheme?

• NIC* and HSCL** savings
• Desirable benefit, which you can offer to all your employees at no extra cost to you
• Enhanced staff motivation and retention
• Lower carbon footprint, enhancing your green credentials
• Reduced grey fleet risk
• Government grants towards workplace charge points
• Workplace Charging Scheme: guidance for applicants - GOV.UK (www.gov.uk)

Why choose CBVC?

• A solution for most fleet sizes In Life Fleet Management & Duty of Care mitigation
• Multi-bid funding ensuring Consistently Competitive Pricing
• Dedicated salary sacrifice support
• Comprehensive suite of salary sacrifice documentation
• EV expertise
• Free feasibility consultation

Contact us now on 01283 351201 or sales@cbvc.co.uk.