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Employer EV Scheme

 

 

Unlock Savings with Salary Sacrifice Leasing: Drive Your Dream Car for Less!


Employer EV Scheme 2023
What is Salary Sacrifice 

BA Salary Sacrifice Scheme is when employees are offered an opportunity to exchange a portion of their gross salary for a new vehicle by their employer, similar to cycle to work schemes and childcare vouchers. Employees will enjoy income tax and National Insurance contribution savings and you, the employer will save on the NIC contributions towards the employee’s salary. Implementing a benefit which saves both the employees and the company money.
 
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Employer EV Scheme 2023 

What are the company benefits?

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Pay less National Insurance 

Your business saves on National Insurance which some employers opt to put back into the scheme.

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Attract and retain the best talent 

One of the many reasons employers opt for salary sacrifice is to reduce attrition rates.

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Lower carbon footprint 

Employees will be driving zero emission electric vehicles, thus reducing your organisation’s climate impact.

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Grey fleet management 

A salary sacrifice car scheme enables fleet managers to better analyse and control their grey fleet.

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Fuel savings 

Reduces fuel costs by encouraging grey fleet drivers into more cost effective vehicles.

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Fully maintained vehicles 

Reliable and fully maintained vehicles address duty of care responsibility for grey fleet drivers.

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Employee motivation 

Similar to employee loyalty, the scheme also engages employees and motivates them to perform well.

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Simple online system 

A dedicated portal to select their vehicles and be provided with an example of how much each vehicle will cost.

Employer EV Scheme 2023 

Why use Vehicle Consulting 

Vehicle Consulting are a market leading, progressive, innovative and customer focused vehicle broker and not restricted to the constraints on using certain car dealers or finance companies. 

Vehicle Consulting aim to be the industry leaders in providing the best leasing solutions and expert advice. Specialising in salary sacrifice we strive to offer employees a competitive and cost-effective route into the electric car market. 

*Set up costs are offset from the NI savings from the company over a 36 month period. 
*Subject to the company opting into our early termination protection.

01 Action or commitment 

We have access to every electric vehicle in the UK 

02 Market leading prices 

We have access to every electric vehicle in the UK Market leading prices 

03 Cost neutral 

Offering the most requested employee benefit without any additional costs to the employer* 

04 Expert support 

Offering the most requested employee benefit without any additional costs to the employer* 

05 Minimal risk 

Insurance, maintenance and early termination protection to ensure the lowest risk for employees and employers.*

Employer EV Scheme 2023 

What if my employee leaves during the lease term?

Moving the lease 
Vehicle Consulting East Midlands can support your departing employee move the lease to their new employer (assuming the organisation is eligible), or offer it to another company within our customer base. 
 
Novate the contract 
You can novate the contract to another employee (some electric vehicles have long lead times so a virtually new car available immediately could be popular with your staff). 
 
Early termination 
Finally, you will have the security of our early termination cover, so you won’t face charges should the lease have to terminate prematurely.* 
 
*Subject to opting into our early termination cover and meeting required T&C’s

Employer EV Scheme 2023 

What will HMRC require from me?

Employment contract addendum 
Once a vehicle is selected and approved, employees will need to sign an employment contract addendum to approve the reduction in their gross salary. 
 
Vehicle notification 
You will be required to notify HMRC when you provide an employee with a vehicle. 
 
Payroll update 
Update payroll so that the correct salary deductions and benefit in kind (BIK) calculations can be accurately supplied.
 
 

Employer EV Scheme 2023 
How does the scheme work?

 

STEP 01 

Your employee chooses a brand new electric vehicle from our online portal 
 
 

STEP 02 

The employee sacrifices some of their gross monthly salary 
 
 

STEP 03 

Both save on National Insurance and employee save on income tax
 
 
 
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Have any questions or want to discuss the scheme further?

Get in touch with the Vehicle Consulting East Midlands team