CBVC Vehicle Management, the Staffordshire-based fleet management company, is investing in a new dedicated salary sacrifice division and Ryan Spencer has been appointed to head up the team.

Spencer joined CBVC Vehicle Management last year, starting first on the company’s Leasing Gorilla brand before progressing quickly to Sales Manager and then Head of Salary Sacrifice in August. Prior to CBVC Vehicle Management, Ryan headed up the B2C leasing division at Pendragon Vehicle Management.

Spencer said: “We’re looking for significant expansion once it gets up to speed and we’re expecting to sign our first major contract imminently. Salary sacrifice is certainly the fleet market’s hot ticket at the moment. It’s an exciting time for the business and I’m thrilled to head up the new division.”

Salary sacrifice is currently the fastest growing funding method and CBVC Vehicle Management has seen demand for the product increasing as businesses recognise the tax and national insurance savings available to their employees. Salary sacrifice is particularly attractive for electric vehicles with electric car tax rates fixed at 2% until the end of the financial year 2024/2025. The product is a valuable staff recruitment and retention tool as it offers a cost-effective way of providing a substantial employee benefit.

Spencer added: “Salary sacrifice has real benefits for both the business and the driver. In terms of our approach, we won’t be looking to swap drivers out of company cars and into salary sacrifice cars. We’ll be looking to support companies with ‘grey fleet’ drivers and businesses wishing to extend the provision of lease vehicles to staff who do not qualify for a company car.”