Save Money
Watch your costs shrink as you pay reduced National Insurance when your employees sacrifice a portion of their salary to the scheme. You can also reclaim 50% of the VAT on the vehicle rentals.
Reduce Stress
Salary Sacrifice vehicles are taken on fully maintained contracts meaning that Road tax, MOT, servicing, breakdown cover and tyres are all included, and you have no vehicle upkeep charges to worry about. We also recommend that you take out all Salary Sacrifice contracts on brand-new vehicles so that they come with a manufacturer warranty, and you won’t be liable for unexpected vehicle repairs.
Improve Your Image
Attract potential employees with a Salary Sacrifice scheme by offering it as a staff benefit. Reduce your company’s carbon footprint to improve your sustainability, and create a forward-thinking and green culture at your company to increase your brand trust and customer approval.
Reduce Your Carbon Footprint
By implementing a Salary Sacrifice scheme, you can make a business-wide improvement to your carbon emissions. Switching to electric vehicles will drastically reduce the carbon footprint of your employees’ commute and business travel, which contributes to a significant portion of the environmental impact of most companies.
Increase Employee Retention
Improve employee retention by offering your employees Salary Sacrifice and allowing them to save money and drive a brand-new car they might not otherwise be able to afford. Unless your competitors offer similar vehicle benefits to their staff, your employees will be also less inclined to leave for another opportunity.
Why not enquire now to see whether your business is eligible for a Salary Sacrifice scheme?
Things to consider
There are more factors for an employer to consider compared to an employee regarding whether to implement a Salary Sacrifice scheme and how to best offer it to their employees.
Company Level
Vehicle Selection Policy
Will you let any employee choose any vehicle they wish, or do you want to implement a tiered benefit system which rewards more senior and loyal employees with access to higher-end vehicle options? Are there any manufacturers you would like to stick to or exclude your employees from driving?
Insurance Policy
In line with the Master Hire agreement you will have with the leasing company, the registered keeper of the vehicle (i.e. the Business) must hold a full insurance policy on the vehicle. If you do not currently have a fleet insurance policy, you will need to acquire one to cover all of your Salary Sacrifice vehicles.
Employee Level
It might also be pertinent to assess employees on a case by case basis to ensure you are not at risk to be liable for any charges. There are a few factors you may want to consider, which our Salary Sacrifice experts would be happy to discuss with you. If you want to get in touch with them about any of the above or any other Salary Sacrifice queries please call us at your convenience on 01753 871 970.
