Salary Sacrifice EV scheme
Discussion
BigBen said:
Downward said:
Tusker are one.
Cant recall the other.
I have found Tusker, they seem to be the biggest. What I am looking for is an idea of what a typical scheme involves and are the deals as good as 40% off would suggest?Cant recall the other.
I’ve just ordered a car through Tusker on salary sacrifice. Looked at them before when renewing my last few personal leases and they weren’t really that competitive. Now with the changes to BIK from April, EV prices really start to become very attractive. A major plus point is also that tax, servicing, insurance and tyres are all included.
My employer has run a salary sacrifice scheme for years in partnership with our fleet manager - Leasedrive/Zenith. The cost gets billed to the company and then charged to me through the payroll. I've just ordered a Tesla M3 LR through them but it has taken ages for them to come up with a price. As above it really is all inclusive as insurance is provided with the company group policy - all tyres and servicing is included.
The downside with salary sacrifice schemes vs company car programmes is that you don't get any accident management support or courtesy cars in the case of breakdown or accident repair.
The downside with salary sacrifice schemes vs company car programmes is that you don't get any accident management support or courtesy cars in the case of breakdown or accident repair.
Edited by humpy999 on Tuesday 28th January 15:33
Due to the BiK rate, this year seems to be an almost unique chance to try EVs with minimal outlay and at zero risk. Another good aspect of Tusker at least is that you can hand the car back at any time without any real penalty. When I was taking personal leases I always went 2 years so as to avoid tyre purchases and not be liable when service costs start to stack up. With salary sacrifice I’ve went 3 years as it seems stupid not to. 3 years is as far as BIK rates have been issued too (0%, 1%, 2%). You get the feeling if the take up of EVs is high then the tax rate increase will follow in 2023
So basically try to get your company involved as soon as possible to take maximum advantage
So basically try to get your company involved as soon as possible to take maximum advantage
jonty88 said:
So why are arval so much more expensive than others like tusker? 540 on arval vs 384 (I think) for same terms and benefits. My feeling is that arval (who also provide our company cars) are rinsing this.
sorry I should have added we pay extra due to our mileage - it is unlimited and is that quote a like for like? Full business insurance for 3 drivers, unlimited mileage, no termination fees etcAll needs to be wrapped up into the price which is 507 + BIK of 0 for 2020 = 507 i budgeted for 545 as that is what it will be in Year 3
ETA also no up fronts or anything, its just all wrapped up - the 370 quid deal, what is that based on?
Edited by Triumph Trollomite on Wednesday 29th January 15:46
Also interested in this as I'd be the one setting the scheme up for my place and a couple of the Directors are suddenly interested!
How does it work from a VAT perspective? It reads like half can be claimed back by the business, does the other half get charged to the employee?
Will investigate Tusker but any tips greatly appreciated!
How does it work from a VAT perspective? It reads like half can be claimed back by the business, does the other half get charged to the employee?
Will investigate Tusker but any tips greatly appreciated!
Public sector use NHS Fleet solutions.
As said above EVs are now attractive due to the BiK Post April.
Go into it with eyes wide open as you reduce your pension pot. There's another thread which appears to be talking about it in depth.
From an accounting perspective, if your company applies IFRS, then new IFRS 16 legislation requires leases to be shown on balance sheet. Some companies may not want to do this as it makes their assets and debt position look inflated by the lease liability.
Only affects PLCs, public sector and business that apply IFRSs. So may be a non-issue.
As said above EVs are now attractive due to the BiK Post April.
Go into it with eyes wide open as you reduce your pension pot. There's another thread which appears to be talking about it in depth.
From an accounting perspective, if your company applies IFRS, then new IFRS 16 legislation requires leases to be shown on balance sheet. Some companies may not want to do this as it makes their assets and debt position look inflated by the lease liability.
Only affects PLCs, public sector and business that apply IFRSs. So may be a non-issue.
PushedDover said:
Same here - as a Ltd Co of only two, we'd like to see about getting in to an eGolf or similar
I've ordered an eGolf as our first foray into EV. £179 p/m via NHS Fleet solutions.
Just pay for fuel / electricity basically (unless get it free at work / parking etc). Opted for the pod point charger for additional £6 per month.
Cracking deal for us. Works out the same as what my wife's 2012 Peugeot Estate is costing us over the same period! Except less hassle with MOTs and maintenance!
ahas said:
I've ordered an eGolf as our first foray into EV.
£179 p/m via NHS Fleet solutions.
Just pay for fuel / electricity basically (unless get it free at work / parking etc). Opted for the pod point charger for additional £6 per month.
Cracking deal for us. Works out the same as what my wife's 2012 Peugeot Estate is costing us over the same period! Except less hassle with MOTs and maintenance!
the e golf is a very decent EV£179 p/m via NHS Fleet solutions.
Just pay for fuel / electricity basically (unless get it free at work / parking etc). Opted for the pod point charger for additional £6 per month.
Cracking deal for us. Works out the same as what my wife's 2012 Peugeot Estate is costing us over the same period! Except less hassle with MOTs and maintenance!
Dave Hedgehog said:
ahas said:
I've ordered an eGolf as our first foray into EV.
£179 p/m via NHS Fleet solutions.
Just pay for fuel / electricity basically (unless get it free at work / parking etc). Opted for the pod point charger for additional £6 per month.
Cracking deal for us. Works out the same as what my wife's 2012 Peugeot Estate is costing us over the same period! Except less hassle with MOTs and maintenance!
the e golf is a very decent EV£179 p/m via NHS Fleet solutions.
Just pay for fuel / electricity basically (unless get it free at work / parking etc). Opted for the pod point charger for additional £6 per month.
Cracking deal for us. Works out the same as what my wife's 2012 Peugeot Estate is costing us over the same period! Except less hassle with MOTs and maintenance!
Anyway - if I could get the deal you gave I think we’d go for it. It’s not quite so cheap for us non NHS’ers
Any more suggestions for companies that could set a scheme up for small companies?
We'd be looking at 2/3 Business Lease cars and 3/5 via salary sacrifice in the first year. Maybe another 5 if the scheme went down well.
Have a quote from Octopus but their pricing on the e208 is more than a Model 3 (which 2 people want).
I've approached Tusker, Zenith and Arval and not even got a reply... Presumably the fleet size isn't worth their time.
Thanks!
We'd be looking at 2/3 Business Lease cars and 3/5 via salary sacrifice in the first year. Maybe another 5 if the scheme went down well.
Have a quote from Octopus but their pricing on the e208 is more than a Model 3 (which 2 people want).
I've approached Tusker, Zenith and Arval and not even got a reply... Presumably the fleet size isn't worth their time.
Thanks!
Heres Johnny said:
Looks like the 0% BIK is not being applied to cars already registered - so if you are getting an EV as a company car before April, it would be worth hanging on (happy to be corrected but I can't see it).
Other good news is VED looks like its being reduced to zero for the time being and no luxury car element
WHAT?!Other good news is VED looks like its being reduced to zero for the time being and no luxury car element
BIK is applying now?
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