Salary Sacrifice
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Interested in using our Salary Sacrifice scheme to save money on company vehicles?
Salary Sacrifice for Electric Cars
The rising cost of living is impacting many, including employers, and employees are increasingly looking to their employers for support. This is where salary sacrifice car schemes can play a significant role in your benefits strategy. These schemes help attract and retain top talent while allowing employees to save 30-60% on an electric car, making environmentally friendly vehicles more accessible and affordable.
What is a salary sacrifice car scheme?
Salary sacrifice is an arrangement between employers and employees where an employee 'sacrifices' a portion of their gross salary in exchange for non-taxable benefits such as retirement savings, childcare support, bicycles, or, in this case, an electric car lease.
This setup not only reduces the employee's income tax and national insurance contributions but also provides significant savings. Through salary sacrifice, employees can save between £5,000 to £15,000 on the cost of their car, making it a highly attractive and cost-effective benefit. This scheme not only benefits employees financially but also promotes environmentally friendly commuting options, aligning with sustainability goals and enhancing the overall benefits package offered by employers.
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