The Ultimate Guide to Our Salary Sacrifice Car Scheme Calculator

If you’re considering a salary sacrifice car scheme, you’ve likely heard about the fantastic financial and environmental benefits of switching to an electric vehicle (EV). But how do you determine exactly how much you could save, both as an employee and as an employer? That’s where our Salary Sacrifice Car Scheme Calculator comes in. It’s the tool you need to make informed decisions, thanks to its accountant-level accuracy and the ability to calculate not just personal savings but also company savings.

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What Is a Salary Sacrifice Car Scheme?

A salary sacrifice car scheme allows employees to lease a car, typically an EV or plug-in hybrid, by agreeing to a reduction in their gross salary. This reduction leads to savings on income tax and National Insurance contributions (NICs). Employers also save on reduced NICs and can benefit from green initiatives and employee satisfaction. The key to understanding the true benefits lies in accurate calculations and that’s where our calculator excels.

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How Does Our Salary Sacrifice Car Scheme Calculator Work?

Our salary sacrifice car scheme calculator uses your gross salary to provide precise figures for your potential savings. Unlike simpler tools, our calculator is designed to be accountant-accurate, ensuring every detail is taken into account.

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Here’s what it can calculate for you:

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1. Employee Savings:

   • The reduction in taxable income means lower income tax and NICs.

   • It accounts for Benefit-in-Kind (BIK) tax, which is minimal for EVs thanks to government incentives.

2. Employer Savings:

   • Employers save on reduced NICs for participating employees.

   • The calculator can also estimate additional savings if employers offer company-wide participation incentives.

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Additional Features That Maximise Savings

Our calculator goes beyond basic savings to factor in optional extras, such as:

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1. Fixed Fee Motor Insurance:
   Save time and money by bundling motor insurance into your monthly lease cost. The calculator includes this option to show how it affects your overall savings.

2. Fitted EV Charger:
   If you’re switching to an EV, you’ll likely need a home charging solution. Our calculator can also factor in the cost of a fitted EV charger.

3. Comprehensive Maintenance Packages:
   EVs already have lower running costs compared to traditional vehicles, but regular maintenance is still essential. Including a maintenance package in your salary sacrifice scheme can lead to even more predictable and manageable costs.

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Why Choose Our Calculator?

There are many calculators out there, but few are as thorough and versatile as ours. Here’s why our salary sacrifice car scheme calculator stands out:

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• Accountant-Accurate: No guesswork, our tool uses real-world financial data and current tax regulations to deliver precise results.

• Employer and Employee Benefits: Calculate savings for everyone involved, giving you a comprehensive and clear view of how a salary sacrifice scheme works.

• User-Friendly Interface: Designed for ease of use, so anyone can quickly understand their savings potential.

• Customisation: Add optional extras to see how they affect savings, whether it’s car insurance, a home charger, or maintenance.​

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How to Use Our Salary Sacrifice Car Scheme Calculator

Using the calculator is straightforward:

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1. Enter Your Gross Salary: This provides the baseline for your savings calculations.

2. Select Your Car: Choose the EV or plug-in hybrid you’re interested in.

3. Add Optional Extras: If you want insurance, a charger, or maintenance included, the calculator factors those costs into your monthly reduction.

4. View Your Savings: Instantly see how much you can save as an employee or employer.

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Boost Your Savings with a Salary Sacrifice Car Scheme

Switching to an electric car is more than just an environmentally friendly choice, it’s a smart financial move for both employees and employers. With the ability to include extras like insurance, maintenance, and an EV charger, our salary sacrifice car scheme calculator ensures you’ll see the full picture of your potential savings.

Take the guesswork out of the equation. Try our Salary Sacrifice Car Scheme Calculator today and start saving smarter.

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Get Started Today!

Ready to see how much you could save? Use our salary sacrifice car scheme calculator now and take the first step toward greener, more affordable driving.

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For employers, this tool is a game-changer, offering insights into company-wide savings and boosting your commitment to sustainability. Don’t wait, explore the benefits today!