Maximise employer savings with salary sacrifice
An electric vehicle can maximise the savings for your drivers using a salary sacrifice scheme.
Salary sacrifice is an excellent staff benefit, is great for the environment and provides the most cost-effective route to an EV – with no deposit.
Our ‘MiSalarySacrifice’ scheme product is a fantastic way for your drivers to pay through their salary for a fully funded brand new vehicle. It’s a great way to tempt back cash allowance drivers and reduce your NI contributions.
Are EVs right for salary sacrifice schemes?
Yes, Benefit in Kind (BIK) tax is payable on salary sacrifice vehicles, so a zero emission vehicle results in a much lower monthly payment and maximum driver savings, compared to diesel and petrol cars.
Zero emission vehicles result in less Class 1a National Insurance Contributions for the employer, as well as providing a great benefit to attract and retain staff.
EV list prices can be higher than their combustion engine equivalents, so utilising gross salary to pay for an EV is cost-efficient compared to PCH or buying outright. The monthly sacrificed salary amount includes the vehicle rental, full maintenance and tyre policy, breakdown cover and comprehensive insurance to give clear budgeting costs over the payment term.
As an employer, you can also support the scheme by installing workplace chargers. There has never been a better time to help work towards a cleaner environment with a transition to electric vehicles for your salary sacrifice drivers.
Are you interested in learning more about MiSalarySacrifice?