A salary sacrifice arrangement is an agreement to reduce an employee’s entitlement to cash pay, in return for a non-cash benefit. Vehicles are available via such schemes under current HMRC regulations, along with other products like childcare and bicycles.
In exchange for your staff members agreeing to sacrifice a proportion of their salary, the company is able to provide them with an electric vehicle as a company car.
The colleague will be required to pay income tax on the benefit in kind of the vehicle – although the amounts are negligible.
The vehicle will be provided inclusive of the cost of maintenance and can also include insurance products to protect the risk.
Schemes can be tailored to suit any business, group of employees and include rules of how the scheme is set up and contracts are offered.
Why Salary Sacrifice.
Low Monthly payments
By taking advantage of the tax benefits, the monthly payments can reduce by as much as 55%
No credit checks
For employees there are no checks as everything is done through the employer. You simply pay your employer each month from your salary, before tax.
No Deposit
No upfront deposit or delivery charges, you simply start paying monthly amounts after taking delivery of your new EV.
Flexible Payment options
With options running from as low as 12 months and up to four years, you are able to take a car for as long as you like, in addition you are able to select the mileage to suit, from 5000 miles a year up to 30,000 miles per year. It’s all up to you.
Servicing and Maintenance
This is all included, servicing, tyres, brakes…. everything, no hidden costs.
Charging
The right solution for your situation and vehicle of choice can be found through Bounc-e’s selective partnerships. Any additional cost for a home charger, can also be added to your scheme so you make more savings.
Insurance
Bounc-e offers fully comprehensive insurance in your company’s scheme, but the great news is that this is also deductible against tax if included.
It’s as easy as 1, 2, 3
1
Employers join our scheme at no cost and we look after all the paperwork.
2
Employees learn about EVs, browse the huge range of EVs available and choose the right car.
3
Employers and employees save money, on tax and national insurance, and contribute to NetZero and cleaner air for all.