As the deduction is taken from an employee’s gross salary, it reduces the income tax and national insurance (NI) contributions they pay, and lowers your Class NI contributions as the employer. As a result, this minimises the cost of the vehicle to the employee because their gross salary pays for a large portion of the fee.
The Salary Sacrifice scheme is a tax and cost-efficient way of offering attractive employee benefits while reducing your business’ carbon footprint. We help businesses implement the salary sacrifice scheme, and then organise the financing and management of the vehicle.
Lower your business’ tax and
NI contributions by reducing employees’ gross salaries.
Offer employees a tax-efficient, non-cash benefit with access to a brand-new vehicle.
Strengthen your CSR and environmental credentials by reducing your use of fossil fuels.
Reduce the cost per mile for you
and employees by opting for
cost-efficient electric vehicles.
Aside from giving employees access to a brand-new vehicle, the Salary Sacrifice scheme is one way to help employees make extra cost savings every month.
Your team won't need to worry about servicing, replacing tyres or breaking down. Everything is covered as part of the lease contract.
Electric vehicles have a much lower running cost compared to petrol and diesel equivalents, giving employees more funds to spend how they like.
By deducting the cost of the vehicle from your employee’s salary, it reduces their income tax and NIC contributions.
The monthly and contract cost of an EV is considerably lower for your employee than a personal lease vehicle.
As the vehicle’s contract is against the business and the contract monthly fee is taken out of the employee’s salary, it doesn’t impact their credit score.
Got a minute to spare? Our latest video shows you why this fantastic employee benefit could make a real difference in your recruitment, engagement and environmental strategies.
Check out our salary sacrifice calculator, where you can take selected electric vehicles and see the potential savings versus a personal lease.
“I’m excited that we are partnering with Gofor in bringing this additional benefit to our team – we are committed to encouraging green driving but providing electric charging is only the first step. This salary sacrifice scheme means all our employees can not only personally benefit but help us deliver on our net zero ambition”.
Stephen Davis, Chief Executive, Penderyn Distillery
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Electric vehicles are the future, which is why our Salary Sacrifice scheme is designed exclusively for them. Aside from helping your business reduce its carbon footprint, electric vehicles also come with huge cost savings.
BiK percentages on electric vehicles are capped at just 2%, reducing your business overheads while giving employees access to brand-new, modern vehicles.
