EV Salary Sacrifice Employer Benefits
What are the benefits to an employer?
You can’t put a price on doing your bit to help the environment! A company car scheme that offers electric cars helps lower the carbon footprint of your business and actively supports climate change.
By offering an electric car salary sacrifice scheme, you will be providing a low-risk, cost-effective benefit to your employees that boosts workplace motivation, helps retain your existing staff and enhances your credentials as a prospective employer to new talent.
And because employees pay for their electric car from their gross salary, this saves you money as an employer on your National Insurance Contributions (NIC), providing a win-win solution to you and your employees.
The scheme also reduces the risks that come from employees using their own vehicles for business related journeys, known as grey fleets. With your employees driving brand-new electric vehicles through salary sacrifice, you have peace of mind that the cars being used for business purposes will be dependable. In turn, you will lower the reclaim expenses from business trips as more of your company cars will be using electricity instead of fuel.
- Reduced business National Insurance Contributions (NIC)
- An attractive employee benefit without increased costs to your business
- Lower your fuel expenses as fewer conventional cars are used for business trips
- Encourage cash allowance “drivers” back into company cars
- Fully maintained and dependable cars reduce the risks associated to grey fleets
- Helps support your Environmental, Social and Governance aspirations
- A valuable tax-efficient benefit that is available to all employees
- Increases employee engagement, motivation and supports retention
- Enhances your credentials as a recruiter for new talent