All Company cars articles – Page 16
-
Case Studies
The benefits offered by Fujitsu UK and Ireland
PensionA trust-based defined contribution (DC) scheme with employer-matched contributions up to a maximum of 10%.Two legacy defined benefit (DB) schemes, closed to new entrants and to future accrual.One DB plan that is selectively open to new members, such as staff that transfer to Fujitsu from the public sector. HealthcarePrivate medical ...
-
ArticleHay Group reviews benefits to fund auto-enrolment
EXCLUSIVE: Hay Group has undertaken a full review of its employee benefits to help fund the cost of auto-enrolment.The global management consultancy, which has around 350 employees, reached its auto-enrolment staging date on 1 February 2014.Charlotte Koch (pictured), head of HR at Hay Group, said: “Auto-enrolment allowed us to take ...
-
AnalysisKey issues around fleet salary sacrifice schemes
Estimates for the number of cars covered by salary sacrifice schemes vary, but a realistic figure would be 50,000-75,000, and this figure is expected to grow in coming years.The number of providers has also increased significantly and recent focus has been on the ‘employee experience’. Many suppliers are concentrating on ...
-
AnalysisAll employers need to know about car salary sacrifice schemes
If you read nothing else, read this…Salary sacrifice car schemes are typically low-cost or cost-free for an employer to introduce.Low-emission cars are popular in schemes because of available tax breaks.Employers can put buffers in place to protect themselves from early termination fees and long-term absence of scheme members.Knowing how to ...
-
AnalysisKey messages for staff about car salary sacrifice schemes
If you read nothing else, read this…Employers should tell staff about potential savings on income tax and national insurance.Employees need to know that company car tax bands will change every year until 2016-17, which could affect a scheme’s cost.Employees may incur early termination costs if they leave the scheme or ...
-
ArticleCompany car tax rates to increase from 2017
Budget 2014: The government has increased the company car tax rates by two percentage points.In tax year 2017-18 and 2018-19 the appropriate percentage of list price, subject to tax, will increase by two percentage points (to a maximum of 37%) for cars emitting more than 75g of carbon dioxide per ...
-
ArticleFuel duty to be frozen until 2015
Budget 2014: The government has confirmed fuel duty will remain frozen until spring 2015.Chancellor George Osbourne cancelled the fuel duty increase planned for September in his 2014 Budget. This was previously announced in the Autumn Statement.It means employees with company cars will save £11 every time they fill up their ...
-
ArticleOnly 16% of employees would consider an electric company car
Only 16% of respondents would consider an electric car as their next company car, according to research by the Leasedrive Group.Its research, which surveyed 534 employee drivers, found that 51% of respondents would not consider an electric car, while 33% were unsure.More than a third (35%) of respondents cited a ...
-
ArticleSalary sacrifice cars to see big growth in flex
Some 22% of respondents plan to add this perk to flex, while 10% of employers plan to add low-emission cars to their plans.Some 18% of employers currently offer salary sacrifice cars and 11% of employers currently offer low-emission cars through their flex plans. Dining cards, such as Tastecard and Gourmet ...
-
Article
RSA staff take up salary sacrifice car scheme
EXCLUSIVE: RSA has seen 1.5% of its employees take up its car salary sacrifice scheme, meaning it is halfway towards its first-year target of 3%.The insurance organisation launched the scheme for its 7,500 eligible employees in September 2013 and has currently seen more than 110 employees take up the benefit.The ...
-
ArticleBenefit-in-kind tax most influential for company car choice
More than a third (39%) of respondents cited benefit-in-kind tax as the most influential factor when selecting a company car, according to research by ALD Automotive.Its research, which surveyed 1,000 fleet drivers, found that 25% of respondents chose car specification and 17% chose fuel economy as the most influential factors.Benefit-in-kind ...
-
AnalysisWhat is the future shape of salary sacrifice car schemes?
If you read nothing else, read this…Fleet providers have begun to introduce electric cars under a salary sacrifice arrangement.Almost half (48%) of employers are considering introducing salary sacrifice.Policies can be put in place to prevent the salary sacrifice risks associated with maternity leave and long-term employee absence.In November 2013, fleet ...
-
Article39% of benefits professionals receive car or allowance
The Employee Benefits Salary survey 2014 , which questioned 361 people responsible for managing benefits and reward in UK organisations, found that, of this 39%, more than one-third (38%) receive a company car rather than a car allowance.The average approximate value of company cars for 62% of respondents in ...
-
Article
Fuel duty increase cancelled
Autumn Statement 2013: The government is to cancel the fuel duty increase which was planned for 1 September 2014.The rise was expected to be 1.61 pence per litre but the cancellation means the price of fuel will be frozen until 2015.It is the second time the government has scrapped a ...
-
Article
OTS publishes details of benefits tax quick wins
The Office for Tax Simplification (OTS) has published the details of its nine ‘quick wins’, which aim to simplify the tax efficiencies on employee benefits and expenses.The ‘quick wins’, which will come in from January 2014, were identified in the OTS’ interim report on employee benefits and expenses in August ...
-
Article
HMRC changes company car advisory fuel rates
HM Revenue and Customs (HMRC) has announced a change to its company car advisory fuel rates.The changes, which relates to some petroleum, diesel and low petroleum gas (LPG) cars, include reductions of 1p per mile in the rate paid to drivers using diesel, and 2p per per mile for employees ...
-
Article
Leasedrive Group partially acquired by HgCapital
Leasedrive Group has been 80% acquired by private equity investor, HgCapital.The fleet group’s management team has rolled 20% of their own investment and equity into the new financial structure.David Bird, managing director of Leasedrive Group, said: “This new investment, which sees the senior management team retain equity and shareholding, demonstrates ...
-
Analysis
Winter driving tips to keep employees safe
If you read nothing else, read this…Employers have a duty of care to ensure employees are safe when driving for business.Training, such as seminars or online risk assessments, can help staff understand the risks of winter driving in darkness or bad weather.Employers should remind staff about the legalities of drinking ...
-
Article
Leicester City Council launches salary sacrifice cars
Leicester City Council has launched a salary sacrifice car scheme for 13,600 eligible employees.The scheme, which is operated by Tusker, includes motor insurance, servicing and maintenance, roadside assistance, tyres and glass, plus protection against redundancy, resignation and maternity leave.Leicester City Council already provides employees with salary sacrifice arrangements on a ...
-
Article
Story Homes launches company car scheme
Cumbrian-based housebuilder Story Homes has launched a company car scheme to enhance its reward and benefits package.The scheme, which is provided by fleet management firm Lex Autolease, includes insurance, and a service and maintenance package.Around half of the organisation’s employees are eligible to participate in the scheme and can choose ...