Cash allowance most popular for UK organisations

EXCUSIVE: Only 12% of respondents with a company car policy provide employees with a car-only option, according to research by Towers Watson.

The Company car benefit report found that 80% of managerial staff are eligible for a car benefit.

It also found that respondents are more likely to offer the choice between a car or a cash allowance, or the option of a cash allowance only, rather than the option of only a car.

The report also found that half of the organisations surveyed said one change they had made to their company car scheme was to introduce more tax-efficient, environmentally friendly cars. 

Darryl Davis, senior consultant at Towers Watson’s data service division, said: “Company car and allowance schemes are still proving very popular across Europe as a sizable part of many employee benefits packages.”