Hi everybody I have been a lurker on this forum for awhile and I will waffle a bit in this thread so please bare with me.
I am based in the UK and In recent times forward-thinking employers have recognised the substantial benefits of extending such salary schemes to include electric cars, either as a means of reducing carbon emissions or as a rewarding perk for loyal employees.
Has any one on this forum implemented salary sacrafrice for their business with cars. Does It operate similarly to the well-established cycle to work scheme, with the employer leasing the car on the employee’s behalf for three or four years. Is the lease cost, then deducted from the employee’s gross income? presumably this arrangement results in lower tax and national insurance payments, allowing employees to retain more of their gross salary.
In theory there should be substantial savings, and its probably it's no surprise that many drivers are taking advantage of these schemes wherever available. The main hurdle for most individuals is persuading their employer to participate.
I imagine Smaller companies, in particular, will be hesitant, partly because presumably they are responsible for leasing the car, and payments must still be made if the employee leaves, dies, or goes on maternity or paternity leave. With the cycle to work scheme though the employer usually manages it all no?
I want to bring this idea to my boss and replace it with our fleet contacts which is causing us so much bother, has anyone sucessfully pitched this to their boss. I plan to research some more and then bring it to him in the New Year. My goal is to emphasise making it hassle-free, risk-free, and cost-free for businesses to pass on these savings to the employees. My aim is to eliminate all reasons why employers might be hesitant to offer cars in this way. Any Advice.
I am based in the UK and In recent times forward-thinking employers have recognised the substantial benefits of extending such salary schemes to include electric cars, either as a means of reducing carbon emissions or as a rewarding perk for loyal employees.
Has any one on this forum implemented salary sacrafrice for their business with cars. Does It operate similarly to the well-established cycle to work scheme, with the employer leasing the car on the employee’s behalf for three or four years. Is the lease cost, then deducted from the employee’s gross income? presumably this arrangement results in lower tax and national insurance payments, allowing employees to retain more of their gross salary.
In theory there should be substantial savings, and its probably it's no surprise that many drivers are taking advantage of these schemes wherever available. The main hurdle for most individuals is persuading their employer to participate.
I imagine Smaller companies, in particular, will be hesitant, partly because presumably they are responsible for leasing the car, and payments must still be made if the employee leaves, dies, or goes on maternity or paternity leave. With the cycle to work scheme though the employer usually manages it all no?
I want to bring this idea to my boss and replace it with our fleet contacts which is causing us so much bother, has anyone sucessfully pitched this to their boss. I plan to research some more and then bring it to him in the New Year. My goal is to emphasise making it hassle-free, risk-free, and cost-free for businesses to pass on these savings to the employees. My aim is to eliminate all reasons why employers might be hesitant to offer cars in this way. Any Advice.
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