HOW DOES THE SCHEME WORK?

Salary sacrifice is a fantastic way for employers to enhance their employee benefits without spending any money. In fact, in many cases, it can actually save you money! The employee can pay for certain items from their pre-tax salary, in this case, a brand new car with everything included but the charge. They save tax, NI, can access volume discounts and they choose the car, term, and mileage to suit their needs. Remember, this is a taxable benefit. The company benefit tax increases as the pollution from the car increases, this is why greener cars work better on the scheme.

HOW DO I INTRODUCE THE SCHEME?

Introducing our scheme is pretty easy. Simply define the rules around leavers, SMP, and answer a few other quick questions. Within a few days, we’ll have the scheme, employee guidance, and quote engine access set up for you! We’ll even handle the launches, and now virtual launches, to your team and push all communication from your team directly to us.

MANAGING YOUR SCHEME MONTH TO MONTH

We try to keep our scheme as simple as possible. After all, your skillset is your company, but we do need to involve you in some key areas. Once your scheme is set up, on a monthly basis you will need to:

• Approve orders, checking employees are permanent and have sufficient salary.
• Actioning payroll sacrifice deductions we calculate and advise (parking fines, etc. go directly to the employee).
• Paying us, the same month as the deduction.
• Advise us of any leavers promptly.

If you have 10 cars, admin shouldn’t take longer than 15 minutes a month.