A salary sacrifice car lease scheme is mutually beneficial to both employee and employer.
It can have great impact on your business by significantly increasing staff retention and helping you to achieve Class 1 National Insurance savings.
This benefit scheme grants employees access to a brand new car of their choice, free from all costs except fuel. Employees will not only enjoy tax efficiencies, but all manufacturer discounts as well.
With Enjoy Benefits, you will receive a fully administered, cost-free service that covers full implementation and marketing of the scheme, as well as ongoing scheme management.
Why not read on to find out more?
Alternatively, to receive a comprehensive overview of the scheme, contact us online or call 0800 088 7315 today.
What does Enjoy Benefit’s Car Lease Scheme include?
In a nutshell, the salary sacrifice car scheme gifts employees with a fully-maintained, serviced and insured vehicle of their choice. Virtually any make, any model, with no deposits or credit checks. The only cost incurred by the employee will be the fuel they use to drive it.
In addition to vehicle maintenance, the scheme includes:
- All servicing (including batteries, exhausts, brakes)
- No cost tyres through Kwik fit
- Comprehensive motor insurance (including business use & GAP insurance)
- Annual vehicle tax
- Gold standard roadside assistance
- Carbon offsetting
Changing circumstances, such as resignation, redundancy, child birth and long term sickness are also accounted for. Neither the employee nor employer will be out of pocket in most of these cases, since the car can be returned early to the provider free of charge.
Please note: terms and conditions apply.
How will a Salary Sacrifice Car Scheme benefit my business?
With Enjoy Benefits, the salary sacrifice car scheme is easy to administer and costless to implement.
It will help you to achieve your Duty of Care obligations and is an effective incentive for staff to stay with the business.
If you already have a similar scheme in place, we can offer you a free review and give you the opportunity to enhance your current benefits package.
There are financial benefits as well.
Each car leased to an employee will typically deliver £300 worth of National Insurance savings every year. That’s £900 over a 36 month contract, based on a car emitting less than 75g CO2 per Km.
With carbon offsetting and the chance for employees to afford more environmentally friendly cars, you will also be able to augment your ‘green’ status.
Please note: terms and conditions apply.
How will the Salary Sacrifice Car Scheme benefit my employees?
So, the car lease scheme is good for business, but what about the interests of the employee?
Rather, what is not in the interests of the employee?
Not only does the car lease scheme give employees the chance to obtain a new and perhaps upmarket car, but there is hardly any cost involved.
In exchange for salary sacrifice, the employee is not responsible for any of the following: deposit, credit checks, insurance, tax or maintenance fees. The impact to personal finances will depend on how often you drive and how far. All you have to pay for is fuel, and you can even save on this by choosing a more efficient car.
How does the Salary Sacrifice Car Scheme work?
At its most basic, the Enjoy Benefits car scheme works like this:
- An employee agrees to exchange a portion of their salary for the lease of their chosen car.
- A new employment contract is drawn up between employer and employee.
- The employer leases the chosen vehicle on a contract that can range between 24 and 48 months.
- Both employer and employee save money, especially on vehicles with the lowest CO2 emission.
More about Enjoy Benefits
Here at Enjoy Benefits, we tailor our services specifically to your business and the current benefits packages you have in place.
Our Client Advisors can suggest the benefits that will best suit you and your employees.
With our services, you do not need to worry about handling marketing and implementation. We will work with your employees to answer any questions they may have, but also get them interested. Our aim is maximum employee up-take with every scheme, and there is no minimum number of employees fee.
All queries are dealt with within the same working day, and once you’ve registered with us, you will receive a dedicated account manager. Your funds will be protected in a client trust account, separate from the working capital of the business. Security is one of our main concerns.
To find out more about this great benefit, contact us online or call 0800 088 7315 with any enquiries. We’re happy to help and just a phone call away.