Company car salary sacrifice providers

Company: Alphabet

Salary sacrifice product: Motivational Leasing

Brief description: Motivational Leasing can be used as a single solution, for both car-eligible and non-car-eligible employees, or in conjunction with other finance methods in a multi-funded car scheme.

It uses software designed specifically for the needs of salary sacrifice users while functioning as a seamless component of the overall funding and vehicle management solutions we design for each customer.

Further details: www.alphabet.co.uk/products-services/finance-products/motivational-leasing/

 

Company: Lex Autolease

Salary sacrifice product: Salary Sacrifice

Brief description: The UK’s largest leasing company Lex Autolease formally entered the salary sacrifice market this month (November) following an 18-month pilot with financial services giant, AXA.

Its ‘Salary Sacrifice’ product will now be made available to all large corporate fleets with an existing fleet of more than 500 vehicles or an employee base above 1,000 staff. Lex Autolease can also offer the scheme to employees’ friends and family members, if employers choose to introduce such a policy.

Further details: www.lexautolease.co.uk/salarysacrifice/

 

Company: Tusker

Salary sacrifice product: SalarySacrifice4Cars (SS4C)

Brief description: Tusker now has over 30 live schemes with SS4C. The take up of a scheme does depend on the industry and company profile, but on average Tusker is finding a take up of approximately 3-5% in the first year and then expects to see circa 1-2% in each of the following two years.

The company ensures the salary sacrifice scheme is bespoke to the customer. It can be capped at a certain CO2 level to fit in with an employer’s environmental policy and customised to their branding.

Further details: www.tuskerdirect.com

 

Company: LeasePlan UK

Salary sacrifice product: SalaryPlan

Brief description: LeasePlan’s client base comprises private sector companies and public sector organisations – served through its dedicated public sector brand Automotive Leasing. Its salary sacrifice product, launched in 2010, is called SalaryPlan.

Since launch, the product has received great interest from a wide range of organisations and we have already built a wealth of experience on the successful implementation of SalaryPlan, both with corporate and public sector bodies.

Further details: www.leaseplan.co.uk

 

Company: Venson

Salary sacrifice product: Venson Advantage

Brief description: Venson Automotive Solutions unveiled Venson Advantage in April, 2010. It decided to launch a scheme after seeing demand from its customers that view salary sacrifice schemes as:
• Delivering savings in NIC, which are paid on employee benefits-in-kind such as company cars at the rate of 12.8% rising to 13.8% on April 6, 2011
• A mechanism for cutting their carbon footprint as, typically, the largest financial savings for both employers and employees are on low emission cars
• Improving duty of care by encouraging company car scheme cash option employees and staff who drive their own cars on business - the so-called ‘grey’ fleet - into company cars
• Adding another flexible option to their existing portfolio of employee benefits.

Further details: www.venson.com

 

Company: ALD Automotive

Salary sacrifice product: Salary Sacrifice

Brief description: Following its recent launch of Salary Sacrifice, ALD has three customers in advanced negotiation/implementation ranging from an SME with 200 employees to a blue chip corporate with 30,000 employees.

ALD offers a full consultative service to calculate the potential benefits to the employer and employee, manufacturer negotiation and HR consultancy in conjunction with a partner.

Further details: www.aldnews.co.uk

 

Company: Zenith Provecta

Salary sacrifice product: Salary Exchange

Brief description: Company cars have and will always be an extremely emotive benefit and with Zenith Provecta aiming to be recognised as the number one outsourcing support services provider for all passenger, LCV and vehicle related benefit solutions, their Salary Exchange for cars scheme was a natural extension to the company’s portfolio.

It says a well-structured scheme should see take-up at around 10-15% in the first year. However, it will vary depending on the exact company profile, the commitment of internal stakeholders in helping to bring the scheme to life and the experience of the leasing company.

Further details: www.zenithprovecta.co.uk

 

Company: Leasedrive Velo Group

Salary sacrifice product: EnviroDrive

Brief description: A few of its key clients have been operating salary sacrifice as a delivery mechanism for employee benefits, including the provision of cars, for several years now. The uptake for company car salary sacrifice schemes within these clients has been increasing steadily since changes in the taxation regime have made the adoption of cars with low CO₂ emissions particularly attractive. 

Leasedrive Velo work closely with our client compensation and benefits teams to ensure that its deliver salary sacrifice to their eligible employees in the most efficient manner possible by properly developing an implementation plan and clearly communicating the benefits of the company car as a benefit under salary sacrifice. 

Further details: www.leasedrivevelo.com

 

Company: Inchcape Fleet Solutions

Salary sacrifice product: Justdrive

Brief description: Customer demand has prompted Inchcape Fleet Solutions to launch a company car salary sacrifice scheme with built-in risk elimination for employers. Called ‘Justdrive’, the scheme delivers a wide range of fully flexible insurances to safeguard employers against early unforeseen termination charges in the event of staff leaving the company. Meanwhile, employees interested in taking up a company car salary sacrifice scheme will be directed to an online portal that helps them in the decision-making process by providing a wide range of ‘driver touchpoint’ information including a cost calculator and a vehicle choice list.

Further details: www.inchcape.com

 

Company: Masterlease

Salary sacrifice product: Salary Sacrifice

Brief description: Masterlease has set up and run a number of schemes for its customers for several years and has experience in managing these tax-efficient schemes. It says more and more businesses are starting to consider salary sacrifice car schemes as a potential method to:
• Offer tax savings for both employee and employer
• Offer one of the most valued staff benefits – a company car
• Reduce risks linked to grey fleet business mileage
• Potentially reduce corporate CO2 emissions due to lower CO2 emitting vehicles undertaking any business mileage.

Masterlease recommends that tax office approval is obtained for your scheme and this can be facilitated by tax advisors, which we will introduce.

Further details: www.masterlease.uk.net

 

Company: Pendragon Contracts

Salary sacrifice product: Simplydriveit

Brief description: Pendragon’s salary sacrifice scheme aims to be risk and admin free for organisations, and was created following consultation with employers and a pilot. Simplydriveit can create quotes online through the dedicated Pendragon webquotes system.

The simplydriveit package incorporates the purchase of the vehicle, depreciation, resale value and interest charges, with the option to purchase the vehicle at the end of the lease period. The vehicle is provided under a full maintenance scheme, which includes all service, batteries, exhausts and tyres under normal wear and tear conditions.

Further details: www.pendragon-contracts.co.uk

 

Company: Fleet Alliance

Salary sacrifice product: Salary Sacrifice

Brief description: Fleet Alliance launched its salary sacrifice car scheme to provide wider car choice for employees as part of their benefits package and to help companies tackle their grey fleet issues by providing access to new, more environmentally friendly cars.  

It felt that a salary sacrifice scheme was an essential part of its client offering and launched the new online service for new and existing customers.

The Fleet Alliance salary sacrifice car scheme promotes low emitting, less polluting vehicles, typically of 140g/km or less, as these are also the most tax-efficient.

Further details: www.fleetalliance.co.uk

 

Company:  Fleet Evolution

Salary sacrifice product: Salary Sacrifice Cars

Brief description: Fleet Evolution was established to service the car salary sacrifice market, employing a team of experts from HR, IT and fleet.

It deploys schemes at no cost to the employer, delivering significant advantages to both employer and employee. Customers range from 20 employees to more than 2,000 with a typical take up rate of 10% in year one. Heavy promotion ensures there are no set up costs or onerous volume demands for clients.

Further details: www.fleetevolution.com