Really important solution for #Leasingbrokers operating #SalarySacrifice schemes contact Andy Eaton or call the #Team on 0330 111 3093 email: [email protected]
The Electric Revolution: Why Salary Sacrifice Makes EVs Accessible? The transition to electric vehicles (EVs) represents one of the biggest shifts in modern mobility. While many drivers are eager to go electric, the higher upfront costs can be a barrier. This is where salary sacrifice schemes are transforming the landscape, making EVs accessible to a broader range of employees while offering significant benefits for both staff and employers. How Salary Sacrifice Works for EVs Salary sacrifice is a simple but effective arrangement where employees agree to give up part of their gross salary in exchange for a brand new electric car. Because the payments are taken from gross salary (before tax and National Insurance), the savings can be substantial. Key Benefits for Employees: - Significant tax savings through reduced Income Tax and National Insurance contributions - Access to new EVs at 30-40% less than retail leasing costs - All-inclusive packages covering insurance, maintenance, and servicing - Fixed monthly payments with no large upfront costs - Opportunity to drive premium electric vehicles that might otherwise be out of reach - Contributing to environmental sustainability Advantages for Employers: - Enhanced employee benefits package helping attract and retain talent - Reduced Class 1A National Insurance contributions - Supports corporate Environmental, Social and Governance (ESG) goals - Minimal administration with most schemes - Corporation tax benefits - Strengthened green credentials and reduced carbon footprint The Environmental Angle With transport being a major contributor to carbon emissions, switching to EVs through salary sacrifice schemes helps businesses and individuals reduce their carbon footprint. This aligns perfectly with corporate sustainability goals while offering practical benefits to employees. Looking Ahead As the UK moves toward its 2030 ban on new petrol and diesel car sales, salary sacrifice schemes for EVs are becoming increasingly popular. They represent a win-win solution, making electric vehicles more accessible while supporting both corporate and national environmental objectives. Protect your customers business with Early Termination Insurance for #SalarySacrifice schemes. Whether you're currently operating or planning to implement these programs, our insurance solutions safeguard your businesses against associated financial risks. #salsac #ev #nic #employeebenefit #2030