Analysis – Page 5
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Analysis
Fleet policies go greener
If you read nothing else, read this...During the financial crisis, employers were hesitant to acquire new cars, so it became more common to extend hire contracts.Employers are looking to greener cars to reduce the cost of running a fleet.Employers are monitoring business miles, considering whether travel is necessary and if ...
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Analysis
Thought leaders: Academic insights: Renting cars by the day can save money
Key points Many company-provided cars are under-utilised Grey fleet cars are now subject o health and safety regulations Daily rental contract rates can be cost-effective and software can assist with in-house monitoring†Daily rental could be a cost-effective way to provide cars for business use, says Peter CookeConventional wisdom suggests that ...
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Analysis
Company car salary sacrifice: watch the risks
If you read nothing else, read this... Common risks with salary sacrifice company cars are around early leavers, parental leave and long-term illness. Employers should also be aware that, when changing to a salary sacrifice scheme, it must be reflected on the employee's contract. Make it clear to staff that ...
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Analysis
Fleet drivers need clear vision
If you read nothing else, read this... There is no legal requirement for employers to ensure drivers have good eyesight, or wear glasses if needed. From 2011, EU legislation will require commercial vehicle drivers to have their eyes tested every five years. Eye examinations can also check for health conditions ...
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Analysis
New accounting standards will affect car lease arrangements
If you read nothing else, read this…A final standard of the lease accounting amendments by the International Accounting Standards Board will be published next year.The amendments will require employers to show leased assets, including cars, on their balance sheets. The changes will affect all employers that account to IASB standards.The ...
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Analysis
Green cars can be high-spec too
If you read nothing else, read this...More than 60 sub-120g/km car models are now available from over 25 manufacturers in nearly 400 variants.P11D benefit calculations are based on how environmentally friendly a car is.Cars emitting less than 120g/km of CO2 currently attract the lowest rate of company car benefit-in-kind tax.Green ...
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Analysis
Technology is changing company fleets
If you read nothing else, read this...The new generation of in-car technologies include automatic braking, parking and steering, stability control, cruise control, adaptive lighting, speed limiting and environmental innovations.Telematics-based systems include GPS, mileage capture, vehicle tracking and fuel cards.Mobile devices are expanding what data can be collected.Before investing in new ...
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Analysis
Fleet review can save costs
If you read nothing else, read this...A fleet review will typically cover four key areas: fleet policy, health and safety, acquisition method and company car supplier.If performed properly, a review can reduce the operating costs of an organisation's fleet by between 10% and 15%.Organisations may find they have to conduct ...
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Analysis
How will VAT rise affect company cars?
If you read nothing else, read this...Accept leasing, purchase, servicing, maintenance, fuel and insurance costs - whether reclaimable or not - will rise as value-added tax (VAT) is going up.Employers should audit their fleet funding and acquisition model now so they do not get caught out in January.Do not necessarily ...
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Analysis
User-chooser car schemes pay off
If you read nothing else, read this …User-chooser fleet arrangements are designed to ensure the most cost- and tax-efficient funding method is used for each employee.It is important for employer and employee to consider the whole-life costs of the arrangement to decide which route is best.Savings available through user-chooser fleet ...
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Analysis
Salary sacrifice company cars: Choosing vehicles and providers
Deciding on the make-up of your fleet and the best provider to meet your needs calls for some careful calculationsWith new offers and providers entering the market all the time, company car salary sacrifice is becoming both more popular and more competitive. Ask any leasing provider whether they are the ...
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Analysis
Salary sacrifice company cars: How to promote the scheme
A varied and effective communication strategy is essential to make sure your scheme succeedsHowever good your offer or provider, if staff do not know about your scheme, are not clear about how it works or simply are not interested, then all that hard preparatory work can come to nothing.Promoting your ...
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Analysis
Salary sacrifice company cars: Understanding the risks
Fleet salary sacrifice is not without its risks, and employers and employees should recognise the potential financial pitfallsCompany car salary sacrifice schemes bring many benefits, both to employer and employee, but they are not risk-free and will not suit every business.It is imperative that both employers and employees are fully ...
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Analysis
Salary sacrifice company cars: Building a business case
The benefits of a company car salary sacrifice scheme might seem obvious, but the selling points must be set out clearlyBuilding the business case for car salary sacrifice schemes involves two things: making the case internally for doing so in the first place, and making the case to employees once ...
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Analysis
Salary sacrifice company cars: What are the tax breaks?
Tax and national insurance breaks are the driving force behind take-up of salary sacrifice car schemesSalary sacrifice is a matter of employment law, not tax law, in that it will result in a change in employees' terms and conditions because they must give up their contractual right to the cash ...
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Analysis
Salary sacrifice company cars: How to implement a scheme
Planning, communication and co-ordination are vital elements to get a fleet salary sacrifice scheme off the groundOne of the attractions of fleet salary sacrifice for the employer is that, if it is done well, there should not be a great deal of internal administration needed once the scheme is up ...
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Analysis
Salary sacrifice company cars: What is salary sacrifice?
Salary sacrifice is a tax-efficient way to give staff access to company cars. Both employee and employer save on tax and NI contributionsIn the post-recessionary economic climate, salary sacrifice means more than you might first think.At a technical level, company car salary sacrifice is, simply, a mechanism through which an ...
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Analysis
Salary sacrifice company cars: Sponsor's comment: Salary sacrifice for cars has come of age
This article is supplied by Zenith ProvectaOver the past 18 months, interest in salary sacrifice for cars has increased dramatically among HR and reward professionals, benefits providers, finance directors and employees, writes Ben Creswick, head of business development, Zenith Provecta.This has been driven mainly by the volume of businesses implementing ...
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Analysis
How to manage: Salary sacrifice company cars 2010
Download a PDF of the Salary sacrifice company cars supplementWhat is salary sacrifice?What are the tax breaks?Building a business caseHow to implement a schemeUnderstanding the risksHow to promote the schemeChoosing vehicles and providersCase studiesSponsor's comment: Zenith ProvectaEditor's comment: Debi O'Donovan, editor, Employee Benefits magazine:Making the most of tax breaks on ...
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Analysis
Company car salary sacrifice schemes speed up
If you read nothing else, read this...A salary sacrifice car scheme can work as a cash-free, cost-neutral benefit for employees, as well as a useful staff retention tool.Expect it to take between three and six months to set up and implement a scheme.This type of scheme can be delivered as ...