Salary sacrifice | Business Motoring

Is salary sacrifice a risk management blindspot?

By |2023-11-29T09:56:13+00:00November 29th, 2023|Fleet management, News, Risk Management, Salary sacrifice|

As the sal sac fleet expands quickly, you could lose control of it. Employees choosing sal sac might have come out of private cars, and so this is their first experience of a leased vehicle, and the particular demands of looking after that,” said Goldin. Risk management applies to salary sacrifice as much as to conventional company cars: employees that don’t look after their cars, cost a lot in repairs and servicing will result in the employer paying more for insurance and the provider upping maintenance package charges over time.

Corparison signs up with Carwow for sal sac

By |2023-10-02T09:39:34+01:00October 2nd, 2023|Fleet management, News, Salary sacrifice|

Partnership aims to provide cost-effective solutions to thousands of carwow’s clients through salary sacrifice, addressing their company car requirements and helping them transition to electric. With the help of Corparison’s salary sacrifice scheme, a business can offer their staff savings between 30-50% on the latest electric car lease deals.

Fleet Alliance reports strong uptake in EV salary sacrifice

By |2023-09-18T13:05:23+01:00September 18th, 2023|Electric Vehicles, Fleet management, News, Salary sacrifice|

Fleet management specialist, Fleet Alliance said that since the start of this year, dozens of companies have taken advantage of its salary sacrifice scheme, which is aimed primarily at SMEs but which is available to businesses of all sizes.  A typical example is Glasgow-based full-service property, data services and energy provider, HFD, which has introduced a salary scheme with Fleet Alliance for all 135 of its employees.

Cost-of-living crisis increasing grey fleet risk

By |2023-08-14T09:59:36+01:00August 14th, 2023|Fleet management, Salary sacrifice|

UK drivers’ ability to afford vehicle maintenance is compromising the safety of drivers and other road users – and for businesses, it’s increasing grey fleet risk – with the research also revealing that only 40% of drivers feel financially prepared to pay for essential work to keep their vehicle safe. Additionally, one in four drivers has got behind the wheel knowing their vehicle needed essential maintenance – a number increasing to 46% for those under 35.

Can EV sal sac mitigate effects of 40% tax trap?

By |2023-05-30T11:14:55+01:00May 30th, 2023|EV leasing, EV leasing, finance and taxation, News, Salary sacrifice|

Latest analysis from Fleet Evolution shows that an electric car leased through a salary sacrifice scheme can not only save income tax but it can, for employees with children, also help protect valuable childcare benefits. An employee with three children and earning £48,000 a year, would be earning an estimated £55,000 in 2027/28, based on average 5% annual pay increases. This will take them into the 40% tax band and means they lose 50% of their childcare benefit, roughly on average £120 a month, as this is index linked.

ULEZ expansion drives motorists towards flexible vehicle access models

By |2023-04-27T09:17:43+01:00April 26th, 2023|Fleet management, Industry Intelligence, Leasing, Mobility, News, Salary sacrifice|

RESEARCH from Churchill Expert, Direct Line Group’s flexible fleet insurance provider, reveals a quarter  of London based drivers whose current vehicle doesn’t comply with the emissions standards for the expanded Ultra Low Emission Zone (ULEZ) are planning to switch to a compliant model. 

EV salary sacrifice scheme rated most valuable benefit

By |2023-04-18T10:12:21+01:00April 12th, 2023|Electric Vehicles, EV leasing, News, Salary sacrifice|

Some 55% of employees said that they would not have opted for an electric car had it not been provided through a salary sacrifice car scheme, while factors that informed their decision to switch to an EV included the provision of workplace charging and the high costs of fossil fuel.

Fleet Evolution webinar looks at living with an electric car

By |2023-01-25T09:45:37+00:00January 25th, 2023|Electric Vehicles, EV leasing, EV leasing, finance and taxation, Fleet management, News, Owning and operating an EV, Salary sacrifice|

Hosted by Andrew Leech, founder and managing director at the EV salary sacrifice and fleet management specialist, who has over a decade’s experience of running an electric car himself, the latest in a series of webinars begins on Friday February 3rd at 1.00pm. It then continues on Tuesday evenings at 7.00pm before repeating on subsequent Fridays at 1.00pm.

Nearly a third of fleets not on track to meet targets

By |2022-11-22T10:22:16+00:00November 22nd, 2022|Electric Vehicles, News, Salary sacrifice|

While research has found that the transition for many fleets is underway, 29% of businesses state that half or less of their company car fleets will be electric vehicles (EVs) by 2027. These organisations are at risk of a sudden and significant transition to electric when the 2030 ban on internal combustion engines (ICE) comes in just a few years later. This could leave them struggling with driver adoption and acceptance, adapting their existing policies to include EVs, and most significantly, workplace charging infrastructure and public charging strategies.

Lack of awareness of sal sac car schemes in HR sector

By |2022-11-21T10:10:40+00:00November 21st, 2022|News, Salary sacrifice|

Twelve months ago, Fleet Evolution exhibited at the Chartered Institute of Personnel and Development (CIPD) Exhibition which is typically attended by around 5,000 HR decision-makers. A survey of visitors to the stand during the event revealed that only 15% were aware of salary sacrifice schemes for cars, particularly electric cars. A year later and Fleet Evolution attended the equivalent CIPD event where a similar survey amongst HR decision-makers produced exactly the same result.

Sal sac remains the choice following Autumn Statement

By |2022-11-18T09:44:55+00:00November 18th, 2022|News, Salary sacrifice|

Drivers choosing a salary sacrifice scheme could drive an electric vehicle at a far more accessible rate than if they were to lease the same car privately, thanks to tax and National Insurance reductions. While there is still benefit in kind tax to pay on the vehicle, it remains at a significantly low rate to encourage the uptake of electric cars.

EVs are for everyone through salary sacrifice

By |2022-11-14T10:09:16+00:00November 14th, 2022|Electric Vehicles, EV leasing, News, Salary sacrifice|

Fleet Alliance scheme offers a number of USPs; for example, a dedicated driver support team helps drivers find special offers and available stock vehicles; there is no mandatory Early Termination Insurance; there is no minimum number of employees; the company’s E-Fleet software is available to help manage the vehicles; while competitive tendering via a panel of funders selects the most price competitive monthly rentals, with access to special offers

EVs remain cost effective despite rising electricity charges

By |2022-10-20T09:50:53+01:00October 20th, 2022|Electric Vehicles, News, Salary sacrifice|

Oil production is now said to be at the lowest levels since the pandemic when demand was driven down by the impact of the coronavirus lockdown. This has led to pump price rises across the board with the average UK price of diesel reaching 186ppl and that of unleaded 164ppl according to the latest figures from the RAC, although regional figures may be higher.

Current conditions hampering sal-sac take up

By |2022-10-10T09:24:18+01:00October 10th, 2022|News, Salary sacrifice|

Affordability is being additionally affected by wider economic conditions when people feel their personal finances are increasingly under pressure. There’s a potential question emerging about whether businesses should even be promoting sa lsac at a time when some people may be struggling to meet their heating bill or their mortgage payment.

Two thirds of SMEs consider offering EV sal sac scheme

By |2022-06-23T19:46:00+01:00June 24th, 2022|News, Salary sacrifice|

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.

Salary sacrifice EVs can help staff tackle cost of living crisis

By |2022-06-14T11:43:22+01:00June 14th, 2022|Electric Vehicles, News, Salary sacrifice, Unpublished|

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

Stantec UK launches EV and hybrid salary sacrifice scheme with Fleet Evolution

By |2022-03-22T10:19:30+00:00March 22nd, 2022|News, Salary sacrifice|

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.

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