Download a PDF of the How to manage salary sacrifice company cars guide 2012
Choosing vehicles and providers
Sponsor’s comment: Ian Hughes, commercial director at Zenith
Editor’s comment:
Making savings on the employer’s national insurance bill while at the same time offering company cars to a wide range of staff has caught the attention of many benefits managers. Interest in salary sacrifice company car schemes has therefore risen sharply up the agenda in recent years.
After all, what is not to like about cost-cutting and giving staff access to one of the most highly-valued benefits, all in one go?
There is a catch, of course, and that revolves primarily around the complexity of setting up a salary sacrifice scheme and balancing this legwork against the subsequent take-up levels and, therefore, savings.
If you do believe that enough of your staff have the appetite to take part in a company car salary sacrifice scheme to make it worth setting up, then this guide will give you the key pointers to consider when choosing which service provider to help you, and the key questions to ask them.
It also gives you an insight into the issues HM Revenue and Customs or your tax adviser will raise, plus how benefit-in-kind tax on cars will change in the next few years.
Many employers have introduced salary sacrifice company car schemes to great effect, and we profile some of these towards the end of the guide to give other employers inspiration for what can be achieved.
Debi O’Donovan
Editor, Employee Benefits