Salary Sacrifice Cars
A Fresh Approach to Employee Car Schemes
Salary sacrifice cars have become an increasingly integral part of employee benefits packages for companies nationwide. As an employer, you may be considering additional benefits for your employees, perhaps to help support your recruitment activities or as a way of improving retention of your workforce. Salary sacrifice car schemes are a tax efficient way of doing just that.
Capitalise on increasing interest in salary sacrifice vehicles with a scheme that operates in line with your company objectives, works towards employee satisfaction, and incentivises corporate social responsibility across your workforce.
Lifestyle Lease – Employee Car Scheme from Maxxia
Our employee benefit car scheme, Lifestyle Lease, could allow your employees to benefit from attractive savings on a new car. Helping to improve employee motivation and retention, as well as your green credentials, you can be sure to improve employee satisfaction and reap the benefits for your company.
Did you know?
36% of staff say that their benefits were the reason they stayed with a company.
Mercer: What’s Working Survey
Employees consider a company car to be in the top three of benefits to receive from their employer.
Work:Life UK Survey
Supporting you with implementation of your salary sacrifice car scheme
So how do you successfully implement a salary sacrifice car scheme? This is where our team of experts at Maxxia can help.
With years of experience, we can help you to fulfil the aims you have for your company’s salary sacrifice car scheme. We can help you to contact HMRC when submitting your tax clearance information, and give you the relevant advice on what information is needed.
Guidance and Administrative Support
We can offer full support with any administration needs associated with your salary sacrifice car scheme, so that you have the time to concentrate on managing your business as usual. We can advise you on your insurance needs and any further changes you may need to make to internal salary sacrifice car lease policies, in order to incorporate a successful salary sacrifice car incentive into your business.
From the initial salary sacrifice scheme design, right through to launch and promotion, we will be there to help manage your car salary sacrifice scheme effectively.
Why Choose a Salary Sacrifice Car Scheme?
Why exactly are salary sacrifice car lease schemes becoming an increasingly important part of an employee benefits package for both employers and employees?
Providing employees with access to a vehicle via a car sacrifice scheme means brand new vehicles with savings on the retail price, without the fuss of insuring, taxing, and servicing the vehicle themselves. Salary sacrifice cars therefore help employers with Duty of Care issues and also to make potentially significant financial savings. Where an employee’s vehicle is part of a company’s salary sacrifice car lease initiative, employers can rest assured that the car has been properly serviced, and regularly maintained to a high standard, removing any concerns employers may have over their grey fleet.
Salary Sacrifice Benefits
Benefits for your company
• A salary sacrifice car scheme designed to hold employer at no risk
• Lifestyle Lease employee car benefit scheme has the potential to deliver tax savings to your business
• Reduces grey fleet and associated health and safety issues
• Significant enhancement of the reward package
• Encourages employees to drive cars with lower CO2 emissions – improving your green credentials
• Positive recruitment and retention tool
Benefits for your employees
• Significant savings when compared to leasing and insuring a car privately
• Hassle free – all costs, including insurance and maintenance, are covered in one payment
• Tax efficient with lower tax and National Insurance contributions
• No residual value risk
• Access to employers’ purchasing terms on new cars
• If replacing an owned vehicle, employees can keep the sale proceeds from the existing vehicle
• A fully portable car scheme that can be taken to a new employer
As an independent provider we offer you impartial advice on incorporating a successful car salary sacrifice scheme into your company’s benefits package. Our personalised approach takes you through every step of the process, from designing a new salary sacrifice car lease scheme, to providing support during launch and after. There’s no need to worry about the extra administration either – we’ll take care of that for you too. And because we have proven experience providing companies with support when introducing a new salary sacrifice car scheme, rest assured, we’ll provide you with a dedicated team throughout the entire process.
If you need more information or support with a car salary sacrifice scheme, contact our experts today