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Electric Car Salary Sacrifice 

A Salary Sacrifice scheme helps deliver a brilliant employee benefit to both your company and your staff. The scheme offers significant financial savings for both parties while also helping wider Environmental, Corporate and Social responsibilities. 

Why Choose Wessex Fleet?

We'll work closely with your company and employees to build a structured Salary Sacrifice scheme that works for you. We've built a Salary Sacrifice system that's white-labeled for you with all the latest models of cars and taxation rates included. 

Key reasons to choose us:

  • We can offer solutions to all sizes of fleets 
  • We operate a multi-bid funding solution to drive competitive prices 
  • Simple and easy to use Salary Sacrifice calculator 
  • We'll handle all the administration for your scheme 
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How Does Electric Car Salary Sacrifice Work? 

Simply put Salary Sacrifice for Electric Vehicles (EVs) is one of the most affordable ways for your employees to drive a brand-new vehicle.

A salary sacrifice arrangement is an agreement between you and an employee to reduce their entitlement to cash pay in return for a non-cash benefit. Under our salary sacrifice scheme, the driver will receive a fully insured and maintained leased electric vehicle in return for giving up a portion of their pay which is equal to the cost of the lease and associated services. By varying the terms and conditions of employment, the driver will receive a lower salary but will save on income tax and national insurance contributions resulting in the difference in take home pay will be significantly less than the original amount of salary sacrificed.

Employer Benefits

For your business there are three key areas in which a salary sacrifice scheme for cars can potentially deliver benefits to the business:

HR

  • Significantly enhances the total benefits package on offer to employees
  • Supports employee recruitment and retention
  • Provides an ‘all employee’ benefit
  • Bespoke schemes can be tailored to your individual corporate needs

Financial

  • Reduces salary and National Insurance costs
  • Controls salary costs via the effective use of flexible benefits
  • Lowers business mileage reimbursement costs

Corporate Social Responsibility

  • Improves your compliance with health and safety and duty of care legislation
  • Reduces employee travel carbon footprint by encouraging them to move from older, less efficient grey fleet vehicles to safer and more efficient EVs

Employee Benefits

  • You’ll have access to a new car every three to four years, usually at a lower cost than other methods of new vehicle provision.
  • Typically, there will be no deposit or credit checks for you and no impact on your personal credit.
  • Tax and National Insurance liabilities are reduced as payments are deducted from gross salary resulting in significant savings.
  • All-inclusive, hassle-free motoring at a fixed monthly cost. This includes servicing and maintenance, breakdown and recovery, road fund licence, fully comprehensive insurance, replacement tyres, and accident management
  • Access to a tax-efficient second or third car.

Salary Sacrifice Frequently Asked Questions

What is Included in Salary Sacrifice? 

Vehicles sourced via the Wessex Fleet Salary Sacrifice scheme will include all the following:

  • A fully electric vehicle leased on a term between two and four years
  • Fully comprehensive insurance including business use
  • Accident management
  • Full maintenance package including all servicing, tyres, MOTs
  • Breakdown cover
  • Early Termination Protection in case of unforeseen circumstances
  • A dedicated account contact

How Does Insurance Work on a Salary Sacrifice?

As part of the arrangement, insurance is included in the salary sacrificed. We have partnered with Lloyd Latchford, the UK’s leading salary sacrifice insurance provider. The policy will be in the name of the employer but tailored can be tailored to drivers’ individual circumstances.

How Does Servicing and Maintenance Work on a Salary Sacrifice Vehicle?

Your vehicle will be covered for all routine servicing and maintenance including in the event of a breakdown and recovery. You will also be covered for tyre replacement through wear and accidental punctures. You will not be covered for damaged tyres caused by negligence. All you need to do is call our 24hr dedicated driver number on 0800 9177402 if your vehicle is sourced by Wessex Fleet.

Will Salary Sacrifice Cars Still Have a Warranty? 

Yes – any lease vehicle provided by Wessex Fleet is brand new and so will have a full standard manufacturer guarantee exactly as if you had purchased the car yourself brand new.

CONTACT THE TEAM TODAY

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