A salary sacrifice scheme enables your employees to acquire a brand new insured lease vehicle that is fully serviced, maintained and insured. The vehicle is treated as a company car. All your employees have to do is charge the vehicle.
An employee can save money by opting for a salary sacrifice scheme where part of their annual salary is exchanged for a car and additional services before tax. This helps in reducing their tax and national insurance payments. In return, the employee receives a new fully maintained and insured vehicle at a more affordable rate than they would otherwise obtain. The car is considered a company car for tax purposes.
The employer collaborates with Lease Electric to procure the desired vehicle(s) for the employee and deducts the total cost from the employee's salary. This arrangement leads to reduced National Insurance Contributions (NICs) and provides corporation tax relief for the employer. Similarly, the car is treated as a company car for tax purposes.
Lease Electric provides the employer with access to funders who offer new fully maintained and insured vehicles for salary sacrifice schemes. Additionally, Lease Electric offsets the carbon footprint of each vehicle through Verified Carbon Standard and Gold Standard projects. For more information about Salary Sacrifice, click here.
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Once you have completed both forms, we will review you application. A member of our team will reach out to discuss your salary sacrifice scheme, the support we can give you and the options available to your team.
For answers to our most Frequently Asked Salary Sacrifice Questions please click here.
If you would like more information about Salary Sacrfice, please contact us: enquiries@lease-electric.com | 01452 229591
