Analysis – Page 4
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AnalysisAlternative ways to provide company cars
If you read nothing else, read this…The number of staff paying benefit-in kind tax on cars has fallen as employers change their approach to fleet.Alternatives to company cars include: car sharing, car pools, employee car ownership, cash allowance and grey fleet.Fleet arrangements should be selected according to how well they ...
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Analysis
Top tips for greening your fleet
If you read nothing else, read this… One of the most obvious ways to cut carbon dioxide (CO2) emissions is to introduce a cap. Employers can get a more accurate picture of how efficient a car is by considering costs over its lifetime. Driver training can help maximise fuel efficiency ...
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Analysis
Top tips for fleet risk management programmes
If you read nothing else, read this… Reducing fleet risk can reduce operating costs, improve fuel efficiency and cut insurance claims. Employers need to check employees’ driving licences regularly. Telematics technology can be used to monitor driver behaviour, including speed, distance and unsafe manoeuvres.Case study: Osborne cuts fleet insurance costsConstruction ...
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Analysis
Salary sacrifice company cars: Case studies
Local authority adds early termination insurance to salary sacrifice car scheme, while banking group boosts retention by consolidating car benefits for all employees†Cheshire West and Chester CouncilCheshire West and Chester Council reduced the risks associated with its salary sacrifice car scheme by insisting that participating employees take out early termination ...
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Analysis
Salary sacrifice company cars: Choosing vehicles and providers
Key choices in cars and providers Interrogate providers on car choice, discounts, support and maintenance package, and also whether they understand the organisation’s needs. Look for an adviser with a good track record in this area. Employers must decide whether to put a cap on emissions before choosing the cars ...
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Analysis
Salary sacrifice company cars: How to promote a scheme
How employers should promote salary sacrifice car schemes to staff Carry out a staff survey before implementing the scheme. Work with the leasing provider to run workshops, roadshows, events and presentations, distribute flyers, posters and leaflets. Ensure the scheme’s online portal includes comprehensive FAQs, a detailed explanation of ...
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Analysis
Salary sacrifice company cars: Understanding the risks
Key risks and solutionsRisks Early termination/employees leaving the business. Employees no longer able to sacrifice, normally because of moving to lower statutory pay because of maternity leave or long-term absence. Possible longer-term impact on pension expectations.Solutions Early-termination insurance. Passing on the cost to the employee. A contingency or buffer fund. ...
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Analysis
Salary sacrifice company cars: How to implement a scheme
Top tips for set-up Find out how much employee demand there is for the benefit. Seek specialist tax advice. Ensure the launch fits in with any other new benefits planned. Make sure the portal highlights tax breaks and explains the commitment staff are making.Employers must do a lot of groundwork ...
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Analysis
Salary sacrifice company cars: Building a business case
Key selling pointsSupporting employees to drive low-CO2 cars. Significant enhancement of the reward package. Ability to deliver a saving to the employer. Reduces grey fleet and associated health and safety issues. Positive recruitment and retention tool. n Typical saving of up to 35% compared with leasing and insuring a car ...
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Analysis
Salary sacrifice company cars: What are the tax breaks?
Forthcoming tax changesFrom April 2013The 5% BIK rate threshold will still apply to cars emitting 75g/km of CO2 or less, but the 10% threshold will be narrowed still further, to a maximum of 94g/km. Cars emitting 95g/km upwards of CO2 will attract a BIK rate of between 11% and 35%, ...
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Analysis
Salary sacrifice company cars: What is salary sacrifice?
The advantages of offering a salary sacrifice car scheme A tax-efficient benefit for employees and, to a lesser extent, employers, at little or no cost to the business. A useful retention, engagement and motivation tool. Employees get hassle-free access to a car they may not have been able to afford ...
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Analysis
Salary sacrifice company cars: Sponsor's comment: A strong benefit to drive value
A salary sacrifice company car scheme has much to offer but brings a lot to consider, says Ian Hughes, commercial director at Zenith.It is nearly two years since we last sponsored the How to manage salary sacrifice company cars guide with Employee Benefits, and three and a half years since ...
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Analysis
Fuel-efficient cars pay off
If you read nothing else, read this... Manufacturers have been investing a lot of time and energy in developing eco-friendly cars, and most now offer hybrid ranges. When considering electric cars, it is important to look at journey type and access to recharging points. Selection should be about the efficiency ...
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Analysis
How to run a Europe-wide fleet
If you read nothing else, read this...In the European alignment of a fleet policy, employers should embrace differences, as well as similarities.Fleet standards, tax issues and manufacturer preference differ from country to country across the European Union, so take this into consideration.If possible, a single person should be made responsible ...
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Analysis
Drivers move away from grey fleet
If you read nothing else, read this … Under grey fleet arrangements, employees use their own cars for business purposes. Some organisations that have operated grey fleet arrangements are now returning to company cars. Employers should weigh up which is best suited to their organisation.Case study: Asda shows value of ...
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Analysis
Fleets go greener
If you read nothing else, read this … New cars have undergone rapid evolution in terms of fuel-efficient and reduced-emission engines. Employees are pushing for greener vehicles to reduce their benefit-in-kind tax liability. Employers are keen to save fuel costs and promote their corporate social responsibility agenda. Vehicle manufacturers are ...
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Analysis
Keep fleet expenses under control
If you read nothing else, read this . . . Rising fuel costs are pushing fuel expense monitoring up the agenda. Fuel cards and mileage monitoring systems can help identify how much drivers are spending and where. Using fuel cards with other systems may reduce fuel consumptions. Systems should not ...
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Analysis
Green focus for car salary sacrifice
If you read nothing else, read this . . . UK tax incentives naturally skew salary sacrifice company car schemes towards lower-emitting vehicles. Having an emissions cap on vehicle choice will naturally focus a scheme on greener vehicles. Further incentives for lower-emitting vehicles, or an extra levy on more polluting ...
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Analysis
Beware legal risks for drivers
If you read nothing else, read this… The Corporate Manslaughter Act and Corporate Homicide Act 2007 has not gone away. With cases still workingthrough the system, managers need to be vigilant. Risk assessments, driver training, time-on-the-road protocols and telematics can all be useful tools tomitigate risk and exercise duty of ...
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Analysis
Driver training can cut fleet costs
If you read nothing else, read this... Rising fuel costs and insurance premiums are making driver training a win-win for company car fleets. It is important to assess and manage driver risk and then decide who will benefit most from what sort of training. It needs to be sold as ...