Salary sacrifice for EV
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svensktoppen
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It's up to the employer. Some do, some don't. They usually sign up with a third party supplier.
Discuss it with your HR if they are offering it, or are planning to do so, etc.
Discuss it with your HR if they are offering it, or are planning to do so, etc.
Burt2000
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NICS don’t offer it. NHS and only and maybe some private firms.
Was thinking of sending an email to our senior management to see what their thoughts were, but i wanted to have some info and examples of the third party companies that are providing the services.
I see someone mentioned a 'calculator' for working out salaries after taking on a deal. I'm guessing this is only available for people with login's to the site? Or, is there any free/open sites that can be used for providing rough examples of costs?
I see someone mentioned a 'calculator' for working out salaries after taking on a deal. I'm guessing this is only available for people with login's to the site? Or, is there any free/open sites that can be used for providing rough examples of costs?
svensktoppen
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The calculators would be specific to your circumstances. It's the same as pension calculators, etc. It gets complicated... Ultimately it needs to get rolled into payroll and that's why not all companies offer it. Another reason is potential tax liabilities for the companies. And finally the third party leasing companies don't work for free.
Basically you don't pay income tax on the amount you "sacrifice" every month to pay for the car. So that's your "tax rebate" or "discount".
Instead you pay BIC on that amount as it's now received as a benefit (a car) instead of income. Normally they balance out, but for EV that's currently only 2%. That's where the actual saving is.
The actual provider will be a "normal" leasing company.
Something to watch out for with anything like this is what happens if you stop working for any reason, and what your liability is then.
Basically you don't pay income tax on the amount you "sacrifice" every month to pay for the car. So that's your "tax rebate" or "discount".
Instead you pay BIC on that amount as it's now received as a benefit (a car) instead of income. Normally they balance out, but for EV that's currently only 2%. That's where the actual saving is.
The actual provider will be a "normal" leasing company.
Something to watch out for with anything like this is what happens if you stop working for any reason, and what your liability is then.
AlpineF30
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On our one we needed a specific code from HR to login
steeldevil
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Thanks for bringing this to my attention, brought it up with my employer and we are waiting for octopus ev to get back to us with details
@AlpineF30 how does the electric credit work over here with the limited power companies and free public charging?
AlpineF30
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They say it will work with pay chargers over here but as they are few and far between im calling BS lol
bigpupcooper
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Two year on, is the scheme working out ok? Was it octopus ? The private firm I work for are looking into this and happy for recommendations. Ideally. I want min monthly and no maintenance
AlpineF30
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Yeah working out great!
Got a Mercedes EQA for my wife through it and it’s been great.
Yep the leasing company was octopus have had zero complaints delivered the car to Cairnryan and also sorted a charger fitted to the house.
Once this one is up will definitely be getting another