Research from Direct Line Group’s specialist flexible fleet insurer Churchill Expert reveals that as the 2030 deadline for stopping the sale of petrol or diesel cars approaches, business decision makers appear to back the scheme. Half of SMEs (49%) believe that all companies should offer the ECSSS to employees, stating that doing so is part of their company’s responsibility to reduce its carbon footprint while 37 % believe it would be irresponsible not to offer it.
There is a misconception that salary sacrifice car schemes are for the more highly paid employees who are paying tax at 40%, but in reality, the ones they really benefit are ones at the lower end of the pay scale paying tax at 20%, as you cannot allow a salary sacrifice to take net pay below the minimum living wage
Employees will be able to lease up to two vehicles for two, three or four years. Subject to surveys, each lease holder will have an electric vehicle (EV) charge installed at their property, and for every five leases, there will be a charge point installed at a Stantec UK office ensuring employees can charge while at work and alleviate range anxiety.
Online bookings have moved from 12% in 2020 to 37% in 2021 as drivers have made a significant switch from telephone bookings to using the Fleet Assist’s web portal or Tusker’s API link. Whilst over 60% of drivers still make their service booking via a telephone call Tusker believes the trend to book online is set to grow.
Customers now have a much wider choice of models, many of which are from mainstream manufacturers and very competitively priced, and they are more willing to be a little more adventurous in their choice of vehicle. At the same time, more employers, in a very competitive labour market, are realising that a salary sacrifice electric vehicle scheme is an excellent way of attracting the best talent and so are willing to make such schemes more widely available.
SALARY sacrifice is a formal agreement between employee and employer to sacrifice some salary for a new car. Salary sacrifice is sometimes used as an alternative to the provision of a company car. However, Chancellor Philip Hammond announced changes from April 2017 in the 2016 Autumn Statement. This reduces some of the previous tax and NIC advantages of salary sacrifice [...]
HMRC has reminded employers that they must report salary sacrifice and cash allowance agreements on form P11D using the new OpRA rules
THE salary sacrifice car perk is in the crosshairs of the government. Jane Ellison MP, financial secretary to the Treasury, has issued a salary sacrifice consultation to look at the future tax treatment of such benefits. The government highlighted its interest in this area of employee provision at Summer Budget 2015, saying it was concerned at the way benefits had [...]
TUSKER'S salary sacrifice scheme has won two of the most highly coveted accolades at the 10th Annual ACQ Global Awards, the company winning UK Tax Initiative of the Year and CEO David Hosking honoured for UK Game Changer of the Year. The ACQ Global Awards honour organisations and individuals that have had the greatest impact on industry during the past calendar year. Companies [...]
SPEEDY, the tools, equipment and plant hire services company, has successfully launched a salary sacrifice scheme with the support of its long-term leasing partner Lex Autolease. The Merseyside-based business launched the scheme in March and has already surpassed targets set for its first year, with 20 per cent of the workforce registering their interest and 100 cars ordered to date, [...]
Salary sacrifice can be a great way to save on tax but must not take the gross salary below the national minimum wage SALARY sacrifice. Doesn’t sound good does it? We all like to keep as much money in our pocket or monthly wage packet as possible. But it can work to your benefit when it comes to [...]
Enough to put a smile on anyone's face AS most of the UK’s population has now put the Christmas and New Year festivities well behind them, Fleet Evolution has revealed insight into hidden employer benefits of salary sacrifice cars. Fleet Evolution has compiled data to show that 80% of new cars are given to employees who have never [...]
SALARY sacrifice. This is a term that many SMEs know but that's as far as it goes. However, salary sacrifice could save both you as an employer and your staff that take up the scheme a chunk of money each year. If you want to offer a valuable perk to your employees and encourage a cost effective and environmentally friendly [...]
ACFO chair: Car salary sacrifice schemes have miniscule appeal says Julie Jenner Author: Robin Roberts Company car salary sacrifice schemes are over-hyped and outweigh real-world take-up, according to leading fleet decision-makers' organisation, ACFO. Its online survey of members and non-members operating almost 27,000 company cars and employing almost 250,000 people, revealed 1,464 cars were being operated via a [...]