Car Salary Sacrifice
Overview:
Car Lease 4 u car salary sacrifice, also known as car salary sacrifice, allows your employees to trade an element of their salary in exchange for a brand new car, with all of the usual benefits associated with a company vehicle.
Car salary sacrifice is beneficial due to the cost of the car being deducted from the employee’s gross salary, resulting in Tax and National Insurance (NI) savings.
The employee also takes advantage of manufacturer discounts that provide further savings compared to sourcing a fully maintained and insured vehicle themselves.Car Salary Sacrifice
The scheme works best for cars with low CO2 emissions, as they attract the lowest Benefit-in-Kind taxation charges.Car Salary Sacrifice
What Are The Benefits?
To the Employer:
- Enhance your existing benefits package – Recruit, Retain and Reward
- Minimal risk and administration for your company
- Early Termination and Gap Insurance options
- Instrumental in meeting Duty of Care obligations
- Encourages environmentally friendly vehicle selection, reducing your carbon footprint
To the Employee:
- No unexpected costs – the monthly sacrifice is fixed for the length of the contract
- No credit check is required
- No deposit is required
- Fully comprehensive Motor Insurance for private and business use
- Full UK roadside assistance and breakdown recovery
- Road Fund Licence (Tax) included for the duration
- Fully inclusive maintenance package, including breakdown and recovery, and accident management
- The opportunity to drive a cost effective, environmentally friendly car
- National Insurance and Income Tax savings