Your business has joined the scheme (hooray!) which means you and your team can save money on a brand new electric car.
How do the tax savings work?
You pay for your brand new EV through your gross salary, before tax and other contributions are deducted, so you’ll save on Income Tax and National Insurance.
You’ll pay a small amount of Benefit in Kind (BiK) tax, which is currently fixed at 2% until April 2025. The Benefit in Kind rate is set by the government and could increase. ******An increase in BiK would increase the amount you pay for your car. But for now, this is partly what makes salary sacrifice the cheapest way to get an electric car.
Here you’ll find an example of how the savings work for Julia. She’s 40 years old, lives in Twickenham and would like to drive a Tesla Model 3.
What’s included with EV salary sacrifice?
We offer everything you need to hit the road: car, charger, energy, insurance, servicing, maintenance, breakdown and tyres. The lot.
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Free home charger
Because we’re part of Octopus Energy, we can offer your team a free home charger, installed by expert Octopus engineers. This covers a standard installation, if there’s more work involved at their home there may be a charge but we’ll let them know once we’ve figured that out.