The time to act is NOW
The UK government is committed to making the UK carbon neutral by 2050 and recent analysis shows that we are about halfway towards reaching this goal. A core part of the carbon reduction strategy is the switch to electric cars and, thanks to rapidly increasing adoption rates, we are now heading towards a tipping point where electric cars are accepted as the norm for individuals and businesses. To ensure this growth rate continues, the Treasury currently offers a raft of incentives including:
Why salary sacrifice is right for your employees
The car is one of the biggest expenses in a household and also one of the biggest impacts on your employee’s individual carbon footprint. However, this can all change when they become part of your Electric Car Salary Sacrifice scheme.
When employees exchange part of their salary for a brand-new car, part of their income tax is replaced with lower Benefit in Kind taxation. They also pay less National Insurance contributions.
Because Salary Sacrifice schemes focus of fully electric and Ultra Low Emission Vehicles (ULEVs) there are even more savings to be had, including zero road tax and a reduction in fuel costs of up to 85%.
The Committee on Climate Change reports that the average home could save up to 2
tonnes per year in CO2 for each vehicle they switch to electric.
With Salary Sacrifice your employees get:
- A brand new electric car of their choice based on their needs and lifestyle
- Fitted Home Charger
- No credit check or up front deposit
- Fixed monthly payments
- Maintenance, breakdown assistance, tyre repairs and road tax
- Fully comprehensive insurance with up to 3 additional drivers
Why Salary Sacrifice is right for you business
An Electric Car Salary Sacrifice scheme from Hitachi Capital Vehicle Solutions helps you attract and retain the best talent, whilst reducing your carbon footprint and the overall cost of motoring. Here are just some of the many benefits to you as an employer:
We manage all the unforeseen circumstances
With us its simple. Our Waiver Program will manage costs that we are unable to deduct from your employees due to a change in circumstances, some examples include Maternity & Adoption, Sickness, Early Leavers and Damage.
We will fully manage all administration with your employee and advise you of any agreed additional payroll deduction. Any disputed cost will be fully managed by us and we will define how this is balanced at implementation of your scheme.
Helping you and your employees every step of the way
We recognise the switch to electric can be a challenging thought for some employees who are intrigued with the capabilities and how it can benefit them. Salary sacrifice leasing gives your employee the platform to be able to have a brand-new vehicle fully maintained and insured with large savings. We aim to guide your employee to make an informed decision on EV or Ultra Low Emission Vehicle (ULEV) and ensure it is right for their individual circumstances. Below shows the typical journey we would take your employee on to order their salary sacrifice vehicle.
Want to find out more?
Speak to us today about offering your employees the ultimate employee benefits with a greener, more cost effective electric car salary sacrifice scheme. Simply complete the form below and one of our team will be in touch.