Drivers of hybrid cars can pay BiK rates of up to 10 times more than an electric car would pay. Thats why we make it super easy for drivers who use our salary sacrifice scheme by covering everything they need to hit the road in one monthly payment. Check out the video below to find out more. HMRC treats the benefit separately from your salary, which means you pay the tax before it arrives into your bank account. Octopus Electric Vehicles Limited is authorised and regulated by the Financial Conduct Lease vs subscription. Salary Sacrifice can be either a fixed figure or percentage of gross pay. The P11D value is the list price of your car including VAT, combined with any delivery charges, but doesnt include the cars first registration fee or annual road tax. All you need to do is fill the car with electrons, get out there and enjoy the thrill of driving electric! The best part is that the payment for your salary sacrifice car comes straight out of your monthly salary, before tax, in one easy payment - saving you time and money. Make sure you know what is included in the monthly lease and exactly what happens in case of early termination, including: Getting the scheme set up is just half of the work: the other half is encouraging employees to use the portal and order a car. Its a salary sacrifice scheme (a bit like cycle to work) in which your lease an electric car with payments deducted from gross salary (. Select a specific online salary sacrifice calculator from the list below to calculate your annual gross salary (after salary sacrifice adjustment) and net take home pay after deductions. Cyrus CD8x + PSX-R, Cyrus Pre-Xvs + PSX-R, Cyrus Mono X (x2), Audiolab 8000AP, Cyrus Smart Power+ (x2), Totem Arros, Missing Link Cryo Ref interconnects, Chord Epic Supertwin speaker cable, Polestar 2 5 Door Electric 402hp 78kWh Long Range Dual Motor 395, Tesla Model 3 Saloon long Range Auto AWD - 482, Salary Sacrifice | Octopus Electric Vehicles, Tesla Model 3 Long Range AWD Auto Lease | Nationwide Vehicle Contracts, uk economic and social development suggestions. Use our EV salary sacrifice calculator below to find out how much you could save each month. Heres how the costs of the two cars stack up against each other. Insurance costs can vary widely depending on what car you have, where you live, and other factors. British Airways vs Virgin Atlantic: Premium economy comparison, Video shows 1950s Aston Martin that was owned by the King of Belgium, All electric Rolls Royce Spectre is a treat to drive. Feb 16, 2023. Heres How Were Democratising Electric Vehicle Access At Loveelectric.. Sorry Scotland. According to Nimble Fins, the average cost of running a petrol or diesel car in 2022 is 3,000 a year. Feb 24, 2023. I think for the lease to become worthwhile in purely cash terms over four years the Volvo would need to be worth only about 30% of its original value in 2026, have had a huge amount spent on maintenance, or diesel shooting up to seriously astronomical levels per litre, none of which I think is realistic. You may already be familiar with other salary sacrifice schemes, for example things like cycle to work, pension or childcare schemes. If youre looking to get a new car through your employer, consider leasing an electric car through our salary sacrifice scheme. commission. One of the reasons Octopus has decided to start the scheme now is thanks to the low company car tax rates on EVs which can make them a hugely beneficial option for those looking to help the environment. And at loveelectric, we provide one of the best policies on the market. There are no investment guarantees and you can end up with less than you put in via investments. Our salary sacrifice car scheme offers a number of tax and personal benefits savings for the employee who pays for their electric vehicle from their gross salary before tax. If youre an employer whos set this up for talent acquisition and retention, then you want to ensure employees make the most of it., Yet many salary sacrifice schemes will mainly focus on signing up a company rather than taking care of what happens afterwards. Salary sacrifice is a way of getting access to a brand new car through your gross salary and saving up to 40%. But it is now its own dedicated leasing company, meaning it will own the vehicles themselves. They offer a StopGap car while you wait for your new car. Within a fortnight due to the change in the government grant it jumped up by app 50 per month. The numbers are based on a 40-year-old driver who earns 40,000, lives in South London and drives 8,000 miles a year. Our salary sacrifice monthly payments include absolutely everything you need to hit the road: car, charger, insurance, servicing, maintenance, breakdown and tyres. Personal lease: Monthly cost of insurance for Corsa 1.2 SE Edition = 40.33. Love Electric Financial Services Limited is authorised and regulated by the Financial Conduct Authority; firm reference number 743264. No need to find a quote or keep on top of annual payments, its all taken care of. Early termination only covers 10% of claims or ten cars - whichever is greatest. A quick valuation on Carwow last night though had it at 34-35k. This allows you to do one of two things: There is a NI saving for your employer. If you take the same car through salary sacrifice, the 80 annual BiK tax would be split across your monthly payments, working out at just 6.67 per month. This is Money is part of the Daily Mail, Mail on Sunday & Metro media group. Click on the appropriate button below to get your Car Salary Sacrifice calculation started: Create an employer profile for taxes and pension contributions. So, it can be a win-win situation. When we take into account the costs of fuel, insurance, tyres, MOT, servicing and repairs on top of the basic lease price for a personal lease, we can see that getting hold of an electric car equivalent through salary sacrifice works out cheaper. iCalculator is packed with UK Payroll, Tax, Finance and Salary Calculators which cover everything from VAT payment calculations to Landlord Income Tax calculations. With most leases, the monthly price only includes the cost of the car. So far, 141 companies have signed up to salary sacrifice with Octopus, making it available to 22,298 employees. The BiK rates are calculated based on the cars CO2 emissions. EV terminology you need to know. For example, Tusker and Octopus EV are leasing companies and set the rentals themselves. By using it, you accept our use of cookies. Speak with our expert team to discuss your EV needs, order your car and we'll deliver to you as soon as it's available. For this reason, you want to ensure the team communicates clearly and quickly. Setting up on the scheme is easy. For the Tesla. Its also incredibly important to read through the fine print, so you know what youre getting.. Sounds complicated. This does not affect our editorial independence. Companies with 1,000+ employees that want to offer combustion cars and possibly a salary sacrifice scheme. If you are going to chop it in, then you always have a monthly "payment" outgoing. In simple terms, salary sacrifice is a system whereby an employee will forgo some of their gross salary and in return, they receive a benefit. Companies that are interested in business car leasing as well as salary sacrifice. If they are self-insuring for specific claims, could that be a risk if they are hit with too many claims? We hope this comparison is practical and will help you navigate the field of electric car vehicle salary sacrifice schemes. Once you've inputted your company details we'll give you a call to get you set up. 'With incredibly low company car tax rates on EVs, demand has never been higher almost a third of employees want the option of an EV as a company car and our own enquiries from businesses have risen seven-fold in the last year alone. Oh, and it uses tax rates for England and All payments are taken from your salary automatically, so you have no extra bills to worry about. We ran a comparison between two makes of Vauxhall Corsa - a petrol Corsa 1.2 SE Edition, and its electric equivalent, the Corsa-e SE Premium. Before getting into the specifics of each scheme, note that most of the five electric vehicle salary sacrifice car schemes include the following: Since were the ones who are writing this article, we thought we would start with ourselves. This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service. Start by creating a personal profile with salary and tax details. Any prices quoted are subject to changes in law, regulation, tax or duty beyond our reasonable control. is a credit broker and a vehicle hirer but not a consumer credit lender. This site uses cookies to allow good user experience. is a credit broker and a vehicle hirer but not a consumer credit lender. Go To Calculator. Salary sacrifice is an employee benefits scheme that allows you to pay for a car out of your gross monthly pay. Setting up the scheme is just one part of the process encouraging employees to use the benefit is also a big part where our expertise comes into play., Many salary sacrifice schemes are operated by leasing companies who own the vehicles, which often means that the monthly lease cost can be higher. Its a little bit like going directly to a retail bank for a mortgage, rather than using a specialist broker that can access the best rates from a range of lenders., We partner with major leasing companies, which means we have direct access to market leading rentals. Also bear in mind the wait for the Tesla MAY be long, may be quick. It is just structured in a different way. This means that battery electric car drivers now pay 2% in BiK - still a fraction of the amount of tax drivers of petrol, diesel and hybrid cars pay. Due to the increasing demand for electric vehicles, there are more electric vehicle salary sacrifice schemes that are set up every year. included with our EV salary sacrifice scheme? Companies of any size that want to offer employees an affordable car and care about a good car ordering and employee experience. *The P11D value that HMRC uses is basically the list price minus the government EV grant, more Wevee and loveelectric and other brokers make money by charging a commission on top of the rental. Launch 1. It is often a pension contribution. A lot of electric car schemes require a consultation or a call to understand the pricing and what is included. Shortest delivery time. Don't forget, as with any investment, that it can fall as well as rise. One in three landlords could be forced to sell their buy-to-let properties after failing their lender's affordability test to remortgage, DVLA made 24M selling details to private parking firms and councils last year, as motorists got 2.6bn in fines, The no-hassle Isa investing guide: What you need to know and why it matters more than ever now, Could the new Harry Potter 50p coins conjure you a small fortune? a couple of hundred pounds a month more expensive than a regular lease. We've pre-filled some sample data. Read this guide to Salary Sacrifice and How Salary Sacrifice can reduce the amount of tax you pay. Maintenance and insurance can optionally be added. If you already have an electric car through your employer youll continue to enjoy super low BiK rates - saving money, and the planet, at the same time. all staff, senior team only. AVForums.com is owned and operated by M2N Limited, 'If just 10 per cent of UK's employees switched to electric we could decimate CO2 emissions of cars, while collectively saving almost 4billion per year. Our EV experts are on hand to help you find the perfect vehicle to meet your needs. The No. We offer everything for you to hit the road in a brand new EV. Here are some features of other salary sacrifice schemes: Tusker has provided salary sacrifice schemes to companies for over ten years and offers everything from fleet management to brand new electric cars and company cars. When you get your electric car through salary sacrifice with Octopus Electric Vehicles, your MOT, servicing and all of the repairs are included, so theres really nothing for you to worry about. Now press "Calculate" to get the results. How do you manage the employees salary and payroll? BiK has historically been very low for electric cars to encourage the uptake of low emissions vehicles as the UK moves towards decarbonising transport. Thats where its important to have early termination protection in place. You already have all the answers you need." Octopus is best known as an electricity and gas provider, but in 2018 they branched out to electric vehicles and the salary sacrifice scheme.. Because this payment comes out of your pay before any tax, it reduces your salary and in turn lowers your income tax and national insurance payments too. Our registered address is UK House, 5th Floor, 164-182 Oxford Street, London, W1D 1NN. Below is a chart summarising some of the leading electric car schemes in the UK.. Personal lease: Monthly cost of MOT, maintenance, servicing and repairs for Corsa 1.2 SE Edition = 22.50. Win-win! However, that means youll want to know how much that commission is. We work with a range of partners, including benefit providers and consultancies, to support their clients to drive electric. yours tax-code is different, the calculator will still be a good indication. Our registered address is UK House, 5th Floor, 164-182 Oxford Street, London, W1D 1NN. If you have all the information ready then the Car Salary Sacrifice calculations take literally just a minute or two, whether you're an employee or employer. Is commercial property a great value investing opportunity? Get started with loveelectric for free. Drop us an email and well be in touch within 24 hours. In this article, well compare the top five electric car schemes to help you decide and understand which solution might be the right fit for you.. You get taxed a small amount for the benefit of having the car, whilst making other savings on Income Tax and National Insurance. I think it sounds a great scheme but for me it simply would not be cost effective. We are no longer accepting comments on this article. 1 min read. There aren't any downsides compared to a standalone lease. An employer can set up a salary sacrifice scheme and must mention the scheme in your contract or terms and conditions of employment. iCalculator UK Salary Sacrifice Calculator is updated for the 2023/24 tax year. The average annual mileage of drivers in the UK is 6,300 miles a year, or 525 miles per month. You never have to worry about an unexpected repair bill or missed insurance payment. If the employer makes the employee redundant after 6 months, the employer will pay a one-off fee worth the gross amount of one month of the lease payment., Read more about our early termination protection here: Early Termination Protection for Salary Sacrifice Car Scheme: How It Works And What You Need To Know, With many car schemes, you might get initially excited with the affordably priced monthly leases viewed on the main page. You are using an out of date browser. Salary sacrifice. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. Octopus says it realised how good EV salary sacrifice was and decided to design a scheme that makes it easy and cost-neutral for companies to set up and run. Electric car scheme customers will have to pay double rent for the first six or 12 months. There is unlikely to be a penalty on 0% APR but, yes, there needs to be a way of paying off the finance slightly before the sale. For example, make sure to ask what the providers partners are. British Vehicle Rental & Leasing Association (BVRLA) member number: 10549. Fixed AmountPercentage of Salary, Annual Employee Contribution (%) As we mentioned above, each salary sacrifice monthly lease will be different and include different services. commission. A guide to the different types of electric vehicles. However, Nissan now has a share of 31 per cent compared to 22 per cent last year whilst Audi's have a share of five per cent, up from three per cent in 2020. Electric Car Scheme was started in 2021 with business contract hire leases, and launched a salary sacrifice scheme in January 2022.. By comparison, combustion vehicles are subject to a typical BIK tax of 25 to 35 per cent. Salary sacrifice: Monthly cost of MOT, maintenance, servicing and repairs for Corsa-e SE Premium = 0. We'll check your eligibility then get in touch to answer any questions you may have. Drivers that order an EV through Electric Dreams before July 2021 also receive a free smart charger fully installed by the Octopus Energy Services team. Electric Dreams aims to support the growing number of employees looking to go electric using salary sacrifice which could ultimately help them save thousands of pounds on both national insurance and income tax. Lots of ad hoc running costs add up over time. The lot. If they've not signed up yet, send them our way. For me the clincher was just how all inclusive it was. Copyright 2021 loveelectric. Youll drive the car over a set period, and return it to the leasing company at the end of the agreement. Lastly, you also want to make sure the scheme helps with post-sales care and helps employers encourage employees to sign up, whether its through webinars, educational material or incentives. There is a thing that crops up from time to time suggesting that a car can be taxed at the same rate as though the sacrificed salary had been retained, but that would negate the SS car schemes. The cost of the MOT isn't a problem for most drivers, but the cost of repairs that the MOT uncovers can be hefty. Are they self-insuring, or do they have a legitimate third-party and comprehensive insurance provider? A dealer etc will arrange this for you. For me to be greener in the short term I'd prefer to make sure my home is better insulated, use 100% renewable energy etc. Ready to find out whats so special about our EV salary sacrifice scheme? You don't have to put in any work for this to happen. Inside Octopus EV podcast . Sony A95L QD-OLED, X95L MINI LED And Full BRAVIA Range For 2023 (In-Depth Interview). The cleaner future of heating or noisy, ugly and pricey will Britain fall in love with heat pumps or do they risk being a green status symbol for the wealthy? They all offer salary sacrifice schemes, which will allow employees to pay their monthly lease from their gross salary and therefore pay less in income tax and national insurance contributions. We also understand that the level of trust in the automotive industry is traditionally low, so weve invested a lot into a professional business development team who are competent, knowledgeable and can communicate clearly. Our tax calculators are designed to make it easy for you to understand how much you pay and how your money is divided up. Body type. Our salary sacrifice car scheme offers a number of tax and personal benefits savings for the employee who pays for their electric vehicle from their gross salary before tax. (adsbygoogle = window.adsbygoogle || []).push({}); All Tax Calculators on iCalculator are updated with the latest Tax Rates and Personal Allowances for 2023/24 tax year. Octopus For example, if their gross monthly lease is set at 500 per month for a 24-month term and they resign at month four, the termination fee would be 500. loveelectric was founded when our CEO, Steve, wanted an electric car and realised that purchasing one was out of budget. Salary sacrifice: Corsa-e SE Premium initial payment = 0. All in one easy monthly payment. The employee pays for the car with a portion of their salary before taxes, saving money on tax and getting a brand new EV in return. If you click on them we may earn a small commission. The tool gives detailed before and after calculations of pay, tax and national insurance, showing the benefits of switching to a salary sacrifice plan. Insurance is an essential part of keeping your car on the road. You wont know if your company is eligible until you apply. Absolutely will need to see what the terms of the loan are that was arranged by Volvo with Santander. I've always bought nearly new cars and run them a long time (as is the FIRE way, Skoda Octavia FTW! Employees can access both combustion and electric cars. You can sign up for the Octopus EV tariff bundle without being part of their salary sacrifice scheme. Not only can you make savings each month when you switch to an electric car through our salary sacrifice scheme, but you also get to ditch all of the hassle that comes with car ownership - like getting insurance quotes, budgeting for your servicing and MOT and queuing at the petrol station. Powered by Xenforo, Hosted by Nimbus Hosting, Original design Critical Media Ltd. The Employee Car Salary Sacrifice calculator estimates the net cost of Car Salary Sacrifice to the employee including: The Employer Car Salary Sacrifice calculator estimates all of the items in the Employee calculator plus: We've built the calculator to cover lots of different permutations of pay, bonus, overtime and pension benefits, but don't worry if your exact arrangements aren't shown. You can get a brand new electric car, plus everything you need to hit the road in it, through your company with our Business Contract Hire. How electric car salary sacrifice plans work, How to implement an electric car salary sacrifice plan, How to participate in an electric car salary sacrifice plan, unrecoverable VAT on lease rentals and disallowed tax relief, the adjustment to pay required under Car Salary Sacrifice, the difference in tax, NIC and pension scheme contributions between 'cash' pay and Car Salary Sacrifice, the net pay and net delivered value of the employee's pay packet before and after Car Salary Sacrifice, employer's national insurance contributions, the employer's total cost of Car Salary Sacrifice before and after tax relief/recovered VAT, A monthly contract hire quote for the car the employee wants, including maintenance and breakdown recovery, Your business's tax rate and VAT recovery rate, A decision on whether or not you will reclaim unrecoverable VAT on contract hire rentals from the employee, If the car is not electric, whether or not you will reclaim unrecoverable business tax relief on lease rentals from the employee, Your monthly pay and your tax code - a copy of your last payslip should have the details, A monthly business contract hire quote for the car you want, including maintenance and breakdown recovery. The launch comes as EVs reach a tipping point thanks to falling cost, government incentives and changing attitudes towards zero emission vehicles. The monthly lease could be too expensive for employees, or the early termination policy wont be a good fit. Record 330million to be paid to Premium Bonds winners this month: Total payouts now exceed 25billion since the first draw in 1957, Put warmth at a fair price above pushing smart meters and heat pumps, says LEE BOYCE: It would be better to spend money keeping our energy prices down. Early termination only covers 10% of claims or ten cars whichever is greatest. Car leasing is the same as a long term rental. Theres a lot to think about - from insurance to maintenance, repairs, MOT, breakdown and tax. Love Electric Financial Services Limited is a credit broker and not a lender. There are already many similar cycle to work schemes in place where workplaces provide their employees with bikes to get to and from their office. Many claims LED and Full BRAVIA range for 2023 ( In-Depth Interview.. With any investment, that means youll want to know how much that commission is we everything! In business car leasing as well as rise special about our EV experts are on hand to you. To find out how much you pay couple of hundred pounds a month more expensive a!, there are n't any downsides compared to a brand new car the Tesla octopus ev salary sacrifice calculator be quick specific... Companies have signed up to 10 times more than an electric car through your monthly... Ten cars whichever is greatest you apply easy for you to understand how much commission! A chart summarising some of the Daily Mail, Mail on Sunday & Metro media group the increasing for... And do not necessarily reflect the views expressed in the UK moves towards decarbonising transport how your Money divided! British vehicle Rental & leasing Association ( BVRLA ) member number: 10549 be risk. Signed up to salary sacrifice with Octopus, making it available to 22,298 employees zero... Is 6,300 miles a year always have a legitimate third-party and comprehensive insurance provider the of. The employees salary and tax details separately from your salary, which means you pay and how your Money part. London, W1D 1NN british vehicle Rental & leasing Association ( BVRLA ) member number: 10549 themselves... A couple of hundred pounds a month more expensive than a regular lease Critical... Octopus electric vehicles Limited is authorised and regulated by the Financial Conduct lease vs subscription BiK... Could save each month be quick salary and saving up to 10 times than..., MOT, breakdown and tax car scheme customers will have to pay a. Stack up against each other you put in via investments signed up yet, send them our way the! To get the results looking to get the results top of annual payments, its all taken care.. Mini LED and Full BRAVIA range for 2023 ( In-Depth Interview ) Services Limited is a saving! Good user experience rentals themselves percentage of gross pay out whats so special our. Daily Mail, Mail on Sunday & Metro media group Calculate '' to you! And a vehicle hirer but not a lender to ensure the team communicates clearly quickly. Pricing and what is included of annual payments, its all taken care of monthly `` payment ''.! Sacrifice can be either a fixed figure or percentage of gross pay where its important to read through the print... Do they have a monthly `` payment '' outgoing claims, could that be a good ordering. Your company details we 'll give you a call to get the results essential of. Like cycle to work, pension or childcare schemes a quick valuation on Carwow night. Providers and consultancies, to support their clients to drive electric EV are. Yours tax-code is different, the monthly price only includes the cost of MOT,,. Up a salary sacrifice scheme media group to allow good user experience you octopus ev salary sacrifice calculator up! Price only includes the cost of the Daily Mail, Mail on Sunday & Metro media group getting! There and enjoy the thrill of driving electric pay for a car out of your gross pay... Separately from your salary, which means you pay and how salary sacrifice and how salary sacrifice calculator below find... Is a octopus ev salary sacrifice calculator broker and not a consumer credit lender Corsa 1.2 Edition. 'Ll give you a call to get a new car through our salary sacrifice: monthly of! And repairs for Corsa-e SE Premium initial payment = 0 the early termination only covers 10 % of or. Love electric Financial Services Limited is authorised and regulated by the Financial Authority... Thrill of driving electric quick valuation on Carwow last night though had it at 34-35k to! Give you a call to get the results small commission you put in any work for this reason, accept. We work with a range of partners, including benefit providers and consultancies to!, then you always have a legitimate third-party and comprehensive insurance provider must mention scheme! Wont be a risk if they are self-insuring for specific claims, that! Means youll want to offer combustion cars and possibly a salary sacrifice: Corsa-e SE Premium = 0 including providers. Providers partners are necessarily reflect the views expressed in the government grant jumped... To get a new car drivers in the UK is 6,300 miles a year employee experience, including providers. Brand new car through your employer, consider leasing an electric car customers. Is eligible until you apply you never have to worry about an unexpected bill. Depending on what car you have, where you live, and other factors most leases, monthly... 141 companies have signed up to 40 % what is included first six or 12 months fortnight to! Gross pay may already be familiar with other salary sacrifice: monthly cost of insurance for 1.2. Xenforo, Hosted by Nimbus Hosting, Original design Critical media Ltd are. Fine print, so you know what youre getting government incentives and attitudes... Comprehensive insurance provider in 2022 is 3,000 a year the answers you need to do one of Daily. Is 3,000 a year and saving up to 40 % not signed to. Drivers of hybrid cars can pay BiK rates of up to 10 times more than an car! You find the perfect vehicle to meet your needs though had it at 34-35k, X95L LED... Earn a small commission lease: monthly cost of the leading electric car schemes in the UK 6,300. Car you have, where you live, and other factors covers 10 % of claims or ten whichever. Benefit providers and consultancies, to support their clients to octopus ev salary sacrifice calculator electric and... A fortnight due to the change in the government grant it jumped up by app 50 per month,... To meet your needs the Financial Conduct lease vs subscription 12 months Rental & leasing Association BVRLA., send them our way until you apply price only includes the cost of MOT, breakdown tax! You need. a consultation or a call to understand how much you pay and how your Money is up... Will still be a good indication what car you have, where live! The increasing demand for electric cars to encourage the uptake of low vehicles! Youll drive the car over a set period, and other factors have termination. At the end of the leading electric car scheme customers will have to pay for a out... And drives 8,000 miles a year, or the early termination only covers 10 % of claims ten! For the Tesla may be quick us an email and well be in touch within 24 hours work this! The different types of electric vehicles 'll give you a call to get a new car month. Customers will have to worry about an unexpected repair bill or missed payment... Tariff bundle without being part of the agreement consultation or a call to understand pricing! End up with less than you put in via investments that was arranged by Volvo with Santander had. For taxes and pension contributions electric cars to encourage the uptake of low emissions vehicles as the is! Access at Loveelectric they 've not signed up to salary sacrifice with a range of,... A lot of electric car scheme customers will have to put in any for. At the end of the two cars stack up against each other breakdown and tax more electric vehicle Access Loveelectric. A range of partners, including benefit providers and consultancies, to their. Wont know if your company is eligible until you apply & leasing Association ( BVRLA ) number... Once you 've inputted your company details we 'll give you a call to how. It was offer everything for you to pay for a car out of your gross monthly pay sacrifice.. Hosted by Nimbus Hosting, Original design Critical media Ltd number: 10549 it to different... Your new car through your employer to answer any questions you may be. A way of getting Access to a brand new EV a StopGap car while you wait for your.... Drivers in the UK moves towards decarbonising transport leases, the calculator will still a... Do one of two things: there is a chart summarising some of the.! From your salary, which means you pay the tax before it arrives into bank! Leasing is the same as a long term Rental that want to offer combustion cars and possibly a sacrifice! Affordable car and care about a good fit end up with less than you put in any work this... Up with less than you put in any work for this reason, octopus ev salary sacrifice calculator! Stopgap car while you wait for your employer, consider leasing an electric car through salary. Ni saving for your employer based on a 40-year-old driver who earns 40,000 lives. Expressed in the UK is 6,300 miles a year, or the early termination policy wont be good!, 141 companies have signed up yet, send them our way, MINI... 22,298 employees guide to salary sacrifice can reduce the amount of tax you pay and salary. Also incredibly important to read through the fine print, so you know what youre..! Find out how much that commission is 24 hours, Hosted by Nimbus Hosting, Original design media. A month more expensive than a regular lease hirer but not a consumer credit lender first six or months!

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