We’ve shared a guide explaining what the EV salary sacrifice scheme is, how it can help your employees and the overall benefits.
The salary sacrifice scheme exists for many businesses to incentivise, attract and retain employees.
For EVs, it allows employees to exchange part of their gross salary for a new electric vehicle, which includes the car, insurance and maintenance.
The salary sacrifice scheme helps your employees with their electric vehicle costs and maintenance.
As the scheme comes out of their paycheck before they’re paid, they’ll experience tax savings and everything that comes with an electric vehicle. They won’t need to worry about the costs of maintenance and insurance, as it’s included.
Employees will have less admin to deal with and are more likely to stay working with you due to this advantage.
Octopus are one of the best companies to implement the EV salary sacrifice scheme for your business. You can simply lease an EV with Octopus, and the employees pay for it from their pre-tax salary, saving them money and making EVs more affordable. You’ll need to sign your business up through Octopus, and they’ll do the rest.
The salary sacrifice scheme costs businesses nothing to set up, and it means your employee benefits package is revolutionised, saving your team up to 40% when they switch to an electric vehicle.
The scheme maintenance is low, with a digital-first approach. You can use the HR dashboard for all the information, approve orders and complete reporting.
Implementing the EV salary sacrifice scheme is a step in the right direction for a greener future and employee retention.