Webinar recording: Electric Car Salary Sacrifice: a tax efficient benefit for you and your people
In this webinar our tax and people experts discussed how supplying an electric car under a salary sacrifice arrangement for your people is an extremely effective way to attract and retain employees and obtain cost savings at the same time.
Rob Wentworth-James, Corporate Sales Director at Fleet Alliance explained how a salary sacrifice arrangement provides your employees with a low-cost motoring option compared with personal car leasing. The arrangement can be cost-free for your organisation. This is achieved by your organisation saving employer’s national insurance contributions and apprenticeship levy (if applicable). VAT may also be recovered from parts of the car package.
Moore Kingston Smith can help
We have created a salary sacrifice electric car solution to help your organisation implement a salary sacrifice arrangement acceptable to HMRC. This includes:
1. Guiding you through how salary sacrifice works. This can be in the form of a bespoke written document and/or presentation for the employee as well as the employer.
2. Helping you implement the arrangement by ensuring the salary sacrifice is set up in a contractual arrangement that will be acceptable to HMRC.
3. Reviewing lease providers’ documentation to ensure it is HMRC-compliant, and reviewing tax and NIC savings for the car selected by an employee.
4. Advising on payroll reporting implications, including voluntary payrolling of benefits.
5. Assisting with HMRC expense and benefit reporting (e.g. form P11D).
6. Advising on other tax efficient electric car-related benefits, such as electric car charging and tax-free loans so your employees can install solar energy systems at home.
Fleet Alliance
Fleet Alliance is one of the UK’s few remaining independent lease management specialists and currently manages 30,000 vehicles. They have partnered with Lloyds/Lex to deliver a bespoke salary sacrifice solution to companies with employee populations of less than 1,000, bringing salary sacrifice to companies of all sizes not just the largest. Their solution invokes competitive tendering of lease rentals to reduce costs to our client, and they manage the inherent risks of lifestyle insurances, more proactively than the market.
Electric Fleets and Commercial Vehicles | EV Hub – Fleet Alliance
Contact Rob – robert.wj@fleetalliance.co.uk – 07836 799240