Salary Sacrifice
Your team can lease a brand new fully insured Electric or Plug-In Hybrid vehicle with no upfront cost, whilst saving up to 40% in tax.
Salary Sacrifice allows an employee to sacrifice part of their gross monthly salary in exchange for a fully maintained Electric or Plug-In Hybrid Vehicle.
Benefits for the Employer
- Tax Efficient, reduce National Insurance contributions
- Attractive benefit, attract & retain the best talent
- Reduce risks associated with 'Grey Fleet' vehicles
- No intital setup fees
- Optional Early Termination Insurance reduces risk
Benefits for the Employee
- Save up to 40% in Income Tax & National Insurance
- Drive a new, fully insured Electric or Plug-in Hybrid vehicle
- Full Servicing, maintenance & tyres included
- Road Tax included
- No personal credit checks required
Drive Success with Salary Sacrifice for your Employees
Employer?
Reward your employees with enhanced savings on brand-new cars with our salary sacrifice car deals
Employee?
Refer your employer to experience enhanced savings and the joys of driving a brand-new car with our convenient salary sacrifice car deals
Salary Sacrifice FAQs...
A Salary Sacrifice car scheme is a tax efficient non-cash benefit, whereby an employee sacrifices part of their gross salary in exchange for a fully maintained Electric Vehcle (EV). As the deduction is taken from their gross salary, it reduces their income tax and national insurance contributions.
The scheme provides the employee with a fully insured Electric Vehicle, including full servicing, maintenance, replacement tyres, road tax and roadside assistance for the duration of the contract. It is also possible to include Early Termination insurance to limit the Employers exposure if the Employee leaves the business.
Contract terms can run from 2 to 4 years. Generally speaking, the longer the term of the contract, the lower the cost of the monthly rentals, and typically 3 or 4 year contracts are the most popular and offer the best value for money.
If we are able to source a suitable vehicle from UK stock, a lead time of 10 – 14 days is usually achievable. If we need to place a new factory order built to your specification and colour, lead times can vary from 2-3 months to over 12 months, depending on the make and model. We use a wide network of suppliers throughout the UK, so if there is a rare vehicle out there, we can usually locate it!
At the end of the contact term, Yorkshire Fleet will arrange for the vehicle to be collected, either from the company or employee address. As part of this collection process, the vehicle will be appraised, and any excess mileage or damage which falls outside of the published fair wear and tear guide will be charged back to the employer (and may then be subsequently re-charged to the employee, which would be detailed in the terms of the agreement).
No, Salary Sacrifice and the associated fleet discount terms and tax savings are not accessible through the main dealer network.