TO support its SME-focused salary sacrifice car funding provision, vehicle funding and fleet management specialist, Fleet Alliance, has appointed Mark Roberts to the newly-created role of salary sacrifice product manager.
Roberts joins the business from the leasing company Zenith where he was most recently customer relationship director responsible for both corporate and salary sacrifice sales.
Commenting on his appointment, Mark said:
Mark says the company’s focus was primarily on the SME sector, where there was little tailored provision for salary sacrifice car provision. He continued: “Our USP will be the level of help and support we provide customers in the critical order to delivery phase to help them make the transition to an EV as quickly and as efficiently as possible. There is huge demand as many companies realise the savings in tax and national insurance available and as a great incentive to aid recruitment and retention.”
What Makes Salary Sacrifice So Appealing?
In a nutshell: the availability of tax and National Insurance savings. There are further benefits such as provision of salary sacrifice cars to all staff within the business at fleet discounted rates. An employee sacrifices part of their gross salary for an electric car leased by the business. As the sacrifice is paid out of gross salary the employee does not pay income tax or National Insurance on the sacrificed salary. There is company car tax to pay but as this is so low (just 2% of the car cost 2022-23) the net position of the employee is better. In addition the employer saves on lower NIC payments.
Fleet Alliance says its new salary sacrifice scheme allows small and medium sized businesses to offer their employees zero emission electric cars at highly attractive rates, while cutting their carbon footprint and better managing their grey fleet risk (those cars owned privately but used for business purposes).
What Are The Benefits Of Salary Sacrifice?
According to Fleet Alliance, the scheme is an ideal way to provide employees who would not normally qualify for a company car – or those who have opted out in favour of a cash allowance – with ready, cost effective access to fully maintained, zero emission vehicles at no extra cost to the business.
It delivers significant cost savings thanks to the company’s multi-bid funding solution, which employs competitive tendering among a panel of funders to ensure the maximum value is delivered to employer and employee by selecting the lowest cost – a facility not normally available to smaller businesses, it says.
The new scheme also offers employers complete freedom to tailor the lifestyle protection typically associated with salary sacrifice to their own circumstances, which reduces costs yet further enabling them to deliver greater savings to their employees.
Andy Bruce, CEO at Fleet Alliance, welcomed Mark Roberts to the business, saying:
Continuing, Andy said:
“We are seeing a high number of enquiries from businesses that are not currently customers who want more information about salary sacrifice and the opportunities that exist. They may still operate company cars but want help in making electric vehicles available to a wider cross-section of employees.
“This is at the heart of our core competence and will be hugely important for us and our growth ambitions going forward.”