"We found that a number of companies in the UK were offering their employees salary sacrifice car schemes and with our movement to net zero, we were keen to work with our reward partner, Reward Gateway, and Tusker, to offer an affordable route to EV motoring to as many of our employees as possible.”
"I looked at a few different lease companies, but the package that Tusker offer made it by far the best option for me. I love my EV6... it's a lot more environmentally friendly than my previous cars, it’s very quick and it looks nice - what more could I ask for!"
Here are some ball-park salary sacrifice monthly costs. As the cost includes insurance, like any policy they will vary slightly based on the driver’s age and where they live. Monthly costs will also vary based on a driver’s annual mileage. These prices are the net salary figures, so this is what you’ll actually notice going from your pay packet every month after tax. (Based on 5k miles travelled. Quotes generated by Tusker 14.3.23)
Most schemes include fully comprehensive insurance, annual road fund licence (road tax), replacement tyres, routine servicing and maintenance. In addition, most schemes will include breakdown cover and lifestyle protections should you need to end the agreement early.
Like a PCP scheme, drivers have three options at the end of their contract. 1) order a new car and start a new contract. 2) return the vehicle with nothing else to pay (you’ll need to pay for any damage you’ve caused, though). Or 3) buy the car for its market value.
Most salary sacrifce schemes come with servicing costs included. Depending on your provider, you’ll either contact the scheme operator or your retailer directly to arrange for a service to be carried out. Remember though, it’s up to you to know when a service is due. Most schemes also cover simple repairs such as bulb replacement.
Foreign travel is permitted by most salary sacrifice providers, but you will need to give them as much notice as possible (usually a minimum of two weeks). Taking a car abroad requires a number of mandatory documents that prove that you have permission and insurance cover to drive. You’ll need a VE103b certificate before you leave. Most operators will charge a small fee for arranging this, but the certificate will be valid for a year. Operators will also be able to advise on specific document requirements depending on the country you are travelling to. For example, driving into France requires a Crit-Air sticker.
You can normally add one additional driver to your company car insurance policy. To do this, you will need to speak to your Fleet Manager/ HR department.
If a benefit is 'taxed at source' it means that the benefit you receive has already had the Benefit in Kind tax taken off. In terms of Benefit in Kind, it means that employees don’t have to notify the tax office about their salary sacrifice car. If an organisation doesn’t ‘tax at source’ employees will need to ensure the tax office is notified about their car and they will then have the Benefit in Kind tax deducted via their PAYE Coding Notice.
Most salary sacrifice scheme operators work with employers to offer a range of lifestyle protections. These are in place to cover a change in circumstances, such as maternity or paternity leave, redundancy, resignation and long-term sickness. This protection means that there are usually no early termination fees due. Check with your supplier to see which scenarios are covered and which aren’t. Only sign up if you’re happy to do do.
Yes it does. Because you are sacrificing part of your salary, the taxable amount is smaller, so you’ll pay less income tax. You and your employer will also pay less National Insurance contributions (NIC).
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