Overlay
What is a Salary Sacrifice Scheme?
A Salary Sacrifice Scheme is an employee benefit, much like Cycle to Work or Childcare vouchers. The scheme is adopted by the business, allowing the employee to drive an electric vehicle (EV or PHEV), for a fixed monthly cost taken direct from their salary.
The amount is deducted before income tax and National Insurance, helping to create savings and reduce the cost of the vehicle. In return the employee can drive a new vehicle which is inclusive of maintenance, breakdown cover and is delivered as an insured asset, they can even add a home charger to the cost.
There are no costs to set up a scheme and it can be a great addition to any existing employee benefits.
What are the benefits for you?
- No risk to you as an employer, the scheme includes early termination cover after 3 months.
- No cost to set up and available for businesses with over 250 eligible employees.
- Could improve staff recruitment and retention and could help to reduce emissions.
- Potential savings from reduced class 1 National Insurance contributions.
- Full data provided, confirming driver deductions and the information you need for P11D reporting.
What are the benefits for your employees?
- Drive a new car, with no deposit payable and chose from a range of terms and mileages.
- Very low Benefit in Kind tax (BiK) on EVs, through to 2028.
- Easy budgeting: one fixed monthly cost over the duration of the term, and it is fully inclusive.
- Add a spouse or partner (aged over 21 and living at the same address) and use their EV for both business and personal use.
- Include a home charge point with their vehicle order, paid as single monthly payment
- Up to 12 months payment holiday for parental leave and 6 months for sick leave.
Find out more about our Salary Sacrifice Scheme
If you want to find out more about how the Lombard EV Salary Sacrifice Scheme can work for you, please talk to your Relationship manager or get in touch.
This product solution is provided by LeasePlan UK Limited (LeasePlan). LeasePlan’s registered office is at 165 Bath Road, Slough SL1 4AA and they are registered in England and Wales under company number 1397939. LeasePlan is authorised and regulated by the Financial Conduct Authority, register no. 312989. Lombard Vehicle Solutions (LVS) is a product provided for Lombard North Central plc (Lombard) by ALD Automotive Ltd (ALD). ALD uses the trading name Lombard Vehicle Solutions and/or LVS and ALD’s registered office is at Oakwood Drive, Emersons Green, Bristol, BS16 7LB and they are registered in England and Wales under company number 00987418. ALD is authorised and regulated by the Financial Conduct Authority, registered no. 308101. Lombard’s registered office is at 250 Bishopsgate, London, EC2M 4AA and they are registered in England and Wales under company number 00337004. Lombard is authorised and regulated by the Financial Conduct Authority for consumer credit activities, registered no. 710598. ALD acts as an introducer to LeasePlan only. Lombard may receive payment from ALD should you proceed with an agreement. You can ask Lombard or ALD about this.