Salary sacrifice may seem overly complicated however here at SalSac it can offer both employees and employers great benefits whilst remaining cost neutral. This means it doesn't cost the business anything whilst saving the employee money. Government led salary sacrifice schemes have been around for many years and continue to offer businesses and employees great benefits.
Simply put, salary sacrifice is a process whereby employees can sacrifice a proportion of their salary before National Insurance and Income Tax is removed. In exchange they receive a benefit in this case a brand new leased car. Here at SalSac you can also optionally include insurance and a fitted electric vehicle charge point.
So how does the employee save money? Well its easy, your employer deducts the cost of the lease from for salary and therefore your salary appears smaller. The amount you get taxed therefore is significantly reduced and there's the saving. Currently the highest savings are attached to electric car leases due to the extremely low 2% benefit in kind however all cars leased can be salary sacrificed. For more information please see our Salary Sacrifice Benefits Page or contact our specialist salary sacrifice team on 0330 174 6768.