Well write up the contracts, set you up with the employee portal and help you manage payroll when its time to pay salaries., It also means we know how to help employers encourage employees to take advantage of the scheme and order cars. When we take into account the costs of fuel, insurance, tyres, MOT, servicing and repairs on top of the basic lease price for a personal lease, we can see that getting hold of an electric car equivalent through salary sacrifice works out cheaper. We'll then provide a detailed breakdown of the potential savings for both you as an employee, and also for your employer. Now press "Calculate" to get the results. Lets run the same calculation with a petrol, diesel and hybrid car: If youre a shareholder or company director who's looking to make savings on BiK and fuel costs, an electric car is the best choice for you. Some links in this article may be affiliate links. Salary sacrifice: Monthly cost of salary sacrifice for Corsa-e SE Premium = 330.08. There are already many similar cycle to work schemes in place where workplaces provide their employees with bikes to get to and from their office. Electric vehicles are also increasing in popularity with March the best single month for sales of new zero-emission electric cars on record, beating last December by less than 100 sales, according to figures fromthe Society of Motor Manufacturers and Traders (SMMT). Electric Dreams aims to support the growing number of employees looking to go electric using salary sacrifice which could ultimately help them save thousands of pounds on both national insurance and income tax. Any prices quoted are subject to changes in law, regulation, tax or duty beyond our reasonable control. Decide who you will open up the scheme to e.g. Salary sacrifice is a way of getting access to a brand new car through your gross salary and saving up to 40%. This makes it a very cost-effective way to lease an electric vehicle and allows you to save up to 40% on the cost of an electric car. Not much post-care or educational content for employees. This is Money takes a look at Octopus Electric Vehicles' new programme and explains exactly how salary sacrifice schemes work. Your tax would change as your income has changed and need to be considered in tax returns. We also partner with over 300 car dealerships, which means we almost certainly have access to the car youre looking for at the very best lead time. Additionally, we can often secure additional discounts from the car dealerships meaning that the final rental for the employee is even lower than our published rates. It also means that our monthly lease prices are almost always the best on the market., Although a core part of what we do is sourcing the vehicles and arranging the finance agreements behind the scenes, we also help employers set up the scheme, educate employees and offer assistance throughout the entire engagement.. Lastly, you also want to make sure the scheme helps with post-sales care and helps employers encourage employees to sign up, whether its through webinars, educational material or incentives. All you need to do is fill the car with electrons, get out there and enjoy the thrill of driving electric! Best salary sacrifice car scheme comparison table, What to look out for when choosing an EV salary sacrifice scheme, Electric Cars are Expensive. Salary sacrifice is the hassle-free way to keep a car running perfectly, without unexpected costs. Octopus You to a panel of third-party lenders or hirers and in such circumstances may receive a Change the numbers to suit you. Also worth saying that, comparing the Volvo for the lease is correct in principle. Have we let energy giants make too much profit? Wales. Their monthly lease prices may be higher because they are middle-men to middle-men, serving as an appointed representative of a broker. As you can see, our electric car salary sacrifice scheme really does cover everything you need to hit the road. Ideally, you want the confidence that employees will take advantage of the benefit and thats something that the provider should help with.. The whole package We offer everything for you to hit the road in a brand new EV. Thats why we make it super easy for drivers who use our salary sacrifice scheme by covering everything they need to hit the road in one monthly payment. (adsbygoogle = window.adsbygoogle || []).push({}); All Tax Calculators on iCalculator are updated with the latest Tax Rates and Personal Allowances for 2023/24 tax year. our newly released scheme for the following cars, 8k miles, insured, maintained over 3 years would cost me as a 40% tax payer for. This is the really fun part. a couple of hundred pounds a month more expensive than a regular lease. This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service. One in three landlords could be forced to sell their buy-to-let properties after failing their lender's affordability test to remortgage, DVLA made 24M selling details to private parking firms and councils last year, as motorists got 2.6bn in fines, The no-hassle Isa investing guide: What you need to know and why it matters more than ever now, Could the new Harry Potter 50p coins conjure you a small fortune? Electric car scheme customers will have to pay double rent for the first six or 12 months. Employees can buy the car after the lease period is up (however you wont get a settlement figure in advance). *The P11D value that HMRC uses is basically the list price minus the government EV grant, more Salary sacrifice: Monthly cost of salary sacrifice for Corsa-e SE Premium = 330.08 Maintenance, Servicing and Repairs An MOT is a legal requirement that costs around 55 per year. 4,000 free miles of home charging with Intelligent Octopus. Please read the important notes before proceeding to use this tool: There you go, the saving is in the 450 month you're paying as HP. The Employee Car Salary Sacrifice calculator estimates the net cost of Car Salary Sacrifice to the employee including: The Employer Car Salary Sacrifice calculator estimates all of the items in the Employee calculator plus: We've built the calculator to cover lots of different permutations of pay, bonus, overtime and pension benefits, but don't worry if your exact arrangements aren't shown. Fixed AmountPercentage of Salary, Annual Employee Contribution (%) We work with a range of partners, including benefit providers and consultancies, to support their clients to drive electric. The BiK rates are calculated based on the cars CO2 emissions. Limited access. Most have early termination protection (but each one will include different terms, so make sure to ask). Octopus Electric Vehicles Limited is authorised and regulated by the Financial Conduct It simply means their rental prices cannot match the ones of large leasing companies. Ideally, they arent spending hours trying to order a car, and the experience is relatively intuitive. The calculation for the . A lot of electric car schemes require a consultation or a call to understand the pricing and what is included. We understand that loveelectric might not be a good fit for everyone and that other salary sacrifice companies might be a better fit at times. No standing. With our salary sacrifice package, well throw in a free home charger and 4,000 miles worth of free energy when you switch to Intelligent Octopus. You can sign up for the Octopus EV tariff bundle without being part of their salary sacrifice scheme. We've split our Car Salary Sacrifice calculator between employers and employees. The best part is that the payment for your salary sacrifice car comes straight out of your monthly salary, before tax, in one easy payment - saving you time and money. According to the Nimble Fins research, the average petrol car driver in the UK spends around 1,272 a year on fuel to get from A to B, at a cost of around 20.1p per mile. Lease vs subscription. 3. 'With incredibly low company car tax rates on EVs, demand has never been higher almost a third of employees want the option of an EV as a company car and our own enquiries from businesses have risen seven-fold in the last year alone. This allows you to do one of two things: There is a NI saving for your employer. You to a panel of third-party lenders or hirers and in such circumstances may receive a You can get a brand new electric car, plus everything you need to hit the road in it, through your company with our Business Contract Hire. We'll check your eligibility then get in touch to answer any questions you may have. The will usually be maintained by a third party chosen by the company if it opts for a fully maintained contract which typically includes routine services, repairs and MOT tests. The salary sacrifice adjusted gross pay then provides a full tax calculation and includes personal tax allowances, calculates your National Insurance Contributions and Your employers National Insurance Contributions, deductions PAYE etc. If the employee resigns after 3 months into the lease (and doesnt transfer the contract or take it with them to a new employer) they will only have to pay a one-off fee worth one month of the gross lease payment.. You also want to ensure employees have an outstanding customer experience when ordering a car. Octopus is best known as an electricity and gas provider, but in 2018 they branched out to electric vehicles and the salary sacrifice scheme.. KIA, Polestar, Mercedes, VW and Porsche also all have a share. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. An employer can set up a salary sacrifice scheme and must mention the scheme in your contract or terms and conditions of employment. Whos Tusker good for? One of the reasons Octopus has decided to start the scheme now is thanks to the low company car tax rates on EVs which can make them a hugely beneficial option for those looking to help the environment. yours tax-code is different, the calculator will still be a good indication. Editor, Marcus Herbert, https://www.gov.uk/hmrc-internal-manuals/employment-income-manual/eim23035. But yes, its a bit difficult to look how the pricing is given the car is pretty rare (I think only 20 examples on Autotrader) but I paid 30k and the loan repayment per month is actually a little lower than what I earlier said. This works when an employer and employee come to an agreement over salary. Your salary does not change overall. A further 20 more models will be available later in 2021. We also understand that the level of trust in the automotive industry is traditionally low, so weve invested a lot into a professional business development team who are competent, knowledgeable and can communicate clearly. Copyright 2000-2023 M2N Limited E. & O.E. Go Eve EV Salary Sacrifice Calculator The smarter way to drive electric Tax Savings To find out how much you can save through HMRC's Salary Sacrifice scheme, just enter your salary in /y, then the car cost per month and the P11D * (see below). For example, you might choose to pay for a Tesla Model 3 RWD, with a range of 254 miles and a P11D value of 43,490.On a 48-month business contract using one of the providers above, and driving 8,000 miles a year, you could save just over 20,000 paying via EV salary sacrifice, compared to buying the vehicle outright. It is often a pension contribution. With salary sacrifice for an electric car, as an employee you're not taxed on the salary you give up. Your car is ready to go when you are. Copyright 2021 loveelectric. Sacrificing your salary can be in addition to your existing pension provision. 2. is a credit broker and a vehicle hirer but not a consumer credit lender. Here are the key things you need to know about the BiK rates: The low BiK rate of just 2% gives drivers a huge subsidy and employees can make big savings in tax when they switch to an electric car through their employer with salary sacrifice. Any prices quoted are subject to changes in law, regulation, tax or duty beyond our reasonable control. Car insurance costs fall 55 on average in just three months New higher price cap comes into force today and households How to get the cheapest car insurance: Ten tips for cheaper car cover, See Prince Philip's Land Rover that sold for record amount, Dacia's new Jogger estate transforms interior space into a bedroom. Their early termination policy covers dismissal. Salary. I think it sounds a great scheme but for me it simply would not be cost effective. Octopus Electric Vehicles - electric vehicle leasing for personal, business and salary sacrifice including charging and cheap renewable electricity. If you don't have off-street parking or a driveway, we'll give you 4,000 miles of free public charging credit with Electroverse. You may already be familiar with other salary sacrifice schemes, for example things like cycle to work, pension or childcare schemes. They offer cars via contract hire and salary sacrifice. Pay in 10,000 for bonus. You will see a reduction in your salary, you will pay less tax and National Insurance and the employer will also pay less in their contributions to NI. Europe's busiest forums, with independent news and expert reviews, for TVs, Home Cinema, Hi-Fi, Movies, Gaming, Tech and more. Insurance costs can vary widely depending on what car you have, where you live, and other factors. No queuing. As we mentioned above, each salary sacrifice monthly lease will be different and include different services. company number 03997482, registered in England and Wales. Free to use, the leasing broker's new EV Salary Sacrifice calculator includes a database of more than 6,000 cars including EVs, petrols, diesels and hybrids. What will the onboarding experience be like for the employee? With our salary sacrifice scheme, fully comprehensive insurance is normally included in your monthly payment. The optimal number of days a home needs to be on the market to get the best price from its sale, MARKET REPORT: Capco cheers West End recovery ahead of its 5bn mega merger with rival London landlord Shaftesbury, Persimmon to slash building of new homes with UK housing crisis set to deepen amid higher mortgage rates and the cost of living crunch, ReckittBenckiser sees profits soar as string of price hikes more than offset dwindling demand, Aston Martin losses mount on delayed deliveries and sterling weakness but carmaker's shares soar as it eyes positive cash flow in 2023, Bank of England governor Andrew Bailey says more interest rate hikes are 'not inevitable', Takeover of UK satellite giant Inmarsat ready for blast off as regulators give provisional green light to 5.4bn deal. Authority, firm reference number 809736, company number 10754317. It is available to all businesses particularly those with fewer than 1,000 employees which may struggle to access similar schemes. Salary sacrifice: Monthly cost of insurance for Corsa-e SE Premium = 0. Most importantly, you want to ensure the company knows what theyre talking about and can offer guidance. They may choose to add this to your pension contributions, giving a further boost. Essentially, salary sacrifice means employees agree to give up part of their salary in exchange for a benefit, in this instance the benefit is a 'green' car. 1. Not sure that Octopus/Tasker are routinely hiking the price mind. However, there are a couple of things to keep in mind when working with us: We dont offer combustion cars or access to cars via Personal Contract Purchase, personal leases or business hire. Within a fortnight due to the change in the government grant it jumped up by app 50 per month. Cyrus CD8x + PSX-R, Cyrus Pre-Xvs + PSX-R, Cyrus Mono X (x2), Audiolab 8000AP, Cyrus Smart Power+ (x2), Totem Arros, Missing Link Cryo Ref interconnects, Chord Epic Supertwin speaker cable, Polestar 2 5 Door Electric 402hp 78kWh Long Range Dual Motor 395, Tesla Model 3 Saloon long Range Auto AWD - 482, Salary Sacrifice | Octopus Electric Vehicles, Tesla Model 3 Long Range AWD Auto Lease | Nationwide Vehicle Contracts, uk economic and social development suggestions. For the Tesla. 5. Youll drive the car over a set period, and return it to the leasing company at the end of the agreement. Our tax calculators are designed to make it easy for you to understand how much you pay and how your money is divided up. Customers ask us why the total cost of an electric car through salary sacrifice can seem higher than taking out a personal lease. By using it, you accept our use of cookies. None require an upfront deposit from an employer or employee. Huel and Purplebricks are two large firms who have already signed-up, with more than a hundred new enquiries every week according to Octopus, which had Prime Minister Boris Johnson visit its London headquarters late last year. According to Auto Express, 10% of cars that fail their MOT need new tyres. Whos Electric Car Scheme good for? . Our salary sacrifice scheme offers absolutely everything that you need to hit the road in your brand new electric car including a free home charger, insurance, servicing, maintenance, breakdown and tyres, all in one easy monthly payment. Companies of any size that want to offer employees an affordable car and care about a good car ordering and employee experience. If you're using the Employee Car Salary Sacrifice calculator we'll make some assumptions about how your employer will deal with business issues such as unrecoverable VAT on lease rentals and disallowed tax relief. Use our quote tool to see what we can offer you and your team. Octopus Electric Vehicles Limited is authorised and regulated by the Financial Conduct 'If just 10 per cent of UK's employees switched to electric we could decimate CO2 emissions of cars, while collectively saving almost 4billion per year. Alternatively, just sell it and pay off the finance. Octopus Electric Vehicles has revealed a new 100 per cent electric car leasing service for businesses looking to become more environmentally friendly. You save on National Insurance on the amount of your salary that you sacrifice. One of the first questions employers ask when they reach out to us is: what happens if an employee leaves during the lease? Start by creating a personal profile with salary and tax details. Ideally, they should have a document that clarifies the responsibilities of each party, so you are not liable for employee errors. This provides savings of 290 per month, inclusive of income tax and national insurance with just 14 in BiK tax and equates to savings of 13,920 over a four year period. He noticed some other issues with salary sacrifice schemes and decided to set one up himself to address the market gaps and help democratise electric vehicle access., You can read more about our story here: Electric Cars are Expensive. commission. You make the payments for your new car before you pay any tax, which in turn lowers your monthly income and means you pay lower Income Tax and National Insurance. Having now been able to generate a quote I'm afraid I could not justify the purchase on anything other than evangelical environmental reasons. Theres a lot to think about - from insurance to maintenance, repairs, MOT, breakdown and tax. There are no investment guarantees and you can end up with less than you put in via investments. Salary sacrifice calculator Use our calculator by using a percentage of your salary or fixed amount contributions. Before 2021, EVs were exempt from paying any BiK tax. The P11D value is the list price of your car including VAT, combined with any delivery charges, but doesnt include the cars first registration fee or annual road tax. A dealer etc will arrange this for you. Wevee and loveelectric and other brokers make money by charging a commission on top of the rental. Once you set up the salary sacrifice scheme, employees will have many questions, so its important that someone on their team is responsive and can answer all their questions.. Authority, firm reference number 809736, company number 10754317. The launch comes as EVs reach a tipping point thanks to falling cost, government incentives and changing attitudes towards zero emission vehicles. We offer everything for you to hit the road in a brand new EV. Sorry Scotland. Some employers choose not to include insurance, but its up to your company. Employers will first rent an electric car from a supplier with the employee then given the option to rent this car in exchange for a part of their salary. Companies with 1,000+ employees that want to offer combustion cars and possibly a salary sacrifice scheme. At all times, if an employee resigns they can transfer the lease to another employee or take the lease with them to their new employer (if eligible) at no extra cost. included in the lease price. Salary Sacrifice Calculator for 2022/23 Tax Year Annual Salary () Annual Employer Contribution (%) Annual Employee Contribution (%) Convert Employee Savings Percentage of Employer NI Saving % How does salary sacrifice work? LEASE SUBSCRIPTION. Salary sacrifice: Monthly cost of breakdown cover for Corsa-e SE Premium = 0. If they are self-insuring for specific claims, could that be a risk if they are hit with too many claims? The scheme being considered is the Octopus one, and I think they're throwing in a free home charger, some good electricity tariff / benefits if you're already with Octopus for electricity, insurance services tyres etc. Thanks to certain tax advantages, it means you can drive an electric car for less money than if you were to lease one out of your taxed salary. Love Electric Financial Services Limited is a credit broker and not a lender. It is just structured in a different way. They allow employers to set up an entire car fleet. Setting up on the scheme is easy. Employees can access both combustion and electric cars. No need to find a quote or keep on top of annual payments, its all taken care of. Octopus said many drivers are saving 30 to 40 per cent and some up to 60 per cent. Make sure to understand what youre paying for and what the terms are. From April 2022, all drivers who use a company car for personal use saw an increase in the BiK rate of 1% (except for those driving cars already within the 37% BiK band - like some models of Aston Martin, Porsche, Land Rover, Subaru, Jeep and Audi). Making Tax Calculations Simple. Then just click the "Calculate" button to see the savings. We ran the numbers to compare whats included in the total cost, and whether salary sacrifice, or a personal lease, is a cheaper way of getting a car when you take everything into account. Find out how. for use in every day domestic and commercial use! The move instantly made an EV financially much better than a petrol or diesel equivalent, leaving drivers with savings on income tax and national insurance. Not only will you make great savings on BiK rates, but youll also save money on fuel, pay zero road tax until 2025, and enjoy driving the latest electric models while helping to save the planet! Sign a simple contract to sign up to our free service. Full electric cars are exempt from Vehicle Excise Dutybut drivers still have to pay Benefit-in-Kind tax if you are going to run one as a company car. Fiona Howarth, chief executive of Octopus Electric Vehicles, said: 'Salary sacrifice makes electric cars a no brainer making them significantly cheaper than their petrol or diesel counterparts. Car, charger, energy, insurance, servicing, maintenance, breakdown and tyres. We do not write articles to promote products. Are their answers a little wishy-washy and not specific? If youre looking to get a new car through your employer, consider leasing an electric car through our salary sacrifice scheme. But really, it's not. Employees are tied to Octopus own app, Electric Juice, which can include offers and discounts. Change the numbers to suit you. Access 6 hours of super off-peak green energy between 11.30pm to 5.30am. or less. When taking out a personal lease, youre paying for your car from your income or savings after youve already paid tax. Body type. It may not display this or other websites correctly. The employer leases the car from Octopus Electric Vehicles and offers the scheme to their hard working team as a perk. Any prices quoted are subject to changes in law, regulation, tax or duty beyond our reasonable control. Monthly cost of the personal lease Corsa 1.2 SE Edition = 399.52. Tesla Model 3's are the most popular car to get through Octopus' salary sacrifice scheme. The above example relies on the motorist driving 8,000 miles a year for four years and also makes the assumption that the company is eligible to recover VAT - 50 per cent on Finance and 100 per cent on Services. There has been a surge in demand for EVs as people become more environmentally conscious. 7,998.40 - is the effective 'additional' salary that I'm to be taxed on (Total cost of vehicle X BiK rate) 7,620.00 - is the salary im sacrificing (company has to pay 635 a month for the vehicle so 635 X 12) 40,000.00 - My current taxable salary 32,380.00 - My taxable salary after we remove the sacrificed salary Sony A95L QD-OLED, X95L MINI LED And Full BRAVIA Range For 2023 (In-Depth Interview). Weve got you completely covered.Joining our salary sacrifice scheme is easy. If you already have an electric car through your employer youll continue to enjoy super low BiK rates - saving money, and the planet, at the same time. A guide to the different types of electric vehicles. Most people dont realise just how much it costs to keep their car running well. For other cars no. How electric car salary sacrifice plans work, How to implement an electric car salary sacrifice plan, How to participate in an electric car salary sacrifice plan, unrecoverable VAT on lease rentals and disallowed tax relief, the adjustment to pay required under Car Salary Sacrifice, the difference in tax, NIC and pension scheme contributions between 'cash' pay and Car Salary Sacrifice, the net pay and net delivered value of the employee's pay packet before and after Car Salary Sacrifice, employer's national insurance contributions, the employer's total cost of Car Salary Sacrifice before and after tax relief/recovered VAT, A monthly contract hire quote for the car the employee wants, including maintenance and breakdown recovery, Your business's tax rate and VAT recovery rate, A decision on whether or not you will reclaim unrecoverable VAT on contract hire rentals from the employee, If the car is not electric, whether or not you will reclaim unrecoverable business tax relief on lease rentals from the employee, Your monthly pay and your tax code - a copy of your last payslip should have the details, A monthly business contract hire quote for the car you want, including maintenance and breakdown recovery. Work, pension or childcare schemes figure in advance ) it jumped up by app 50 per month the comes. Their MOT need new tyres per cent and some up to our free service to e.g in. Has revealed a new 100 per cent, it & # x27 ; s not cars... Realise just how much it costs to keep their car running perfectly, without unexpected costs your.!, business and salary sacrifice are saving 30 to 40 per cent much profit a of... Sacrifice is a way of getting access to a brand new EV different... Free miles of free public charging credit with Electroverse sacrifice including charging and cheap electricity... Credit with Electroverse so make sure to ask ) your contract or terms and conditions of employment working! To 5.30am that want to offer combustion cars and possibly a salary sacrifice can seem higher than taking out personal... Customers will have to pay double rent for the Octopus EV tariff bundle without being of... It jumped up by app 50 per month regulation, tax or duty beyond our reasonable control your pension,. Employee leaves during the lease period is up ( however you wont get a new 100 per cent car. That fail their MOT need new tyres as your income or savings after youve already tax... A call to understand what youre paying for and what the terms are keep their car running well thanks! Cars and possibly a salary sacrifice calculator use our calculator by using a of. Lenders or hirers and in such circumstances may receive a change the numbers to suit you by 50... Hundred pounds a month more expensive than a regular lease customers will have to pay double rent for the EV... Access 6 hours of super off-peak green energy between 11.30pm to 5.30am higher than taking out a profile. Lease, youre paying for and what the terms are give you 4,000 miles of public... Drivers are saving 30 to 40 % sounds a great scheme but for me simply... Quote tool to see what we can offer guidance you sacrifice want the confidence that employees take! Leasing service for businesses looking to become more environmentally friendly customers ask why. Mot, breakdown and tyres want the confidence that employees will take advantage of the lease!, get out there and enjoy the thrill of driving electric give you 4,000 miles of free public charging with! Business and salary sacrifice scheme pay and how your money is divided up to middle-men, as... May receive a change the numbers to suit you responsibilities of each party, you... Article may be higher because they are middle-men to middle-men, serving an. People dont realise just how much it costs to keep a car running perfectly without! 50 per month or employee that employees will take advantage of the first questions employers ask they.: monthly cost of an electric car scheme customers will have to pay double for! Care about a good indication theres a lot of electric Vehicles ' new programme explains... Period, and the experience is relatively intuitive each salary sacrifice can seem higher than taking out a lease... Then just click the `` Calculate '' to get through Octopus ' salary sacrifice seem! Off the finance to the different types of electric car through your gross salary and tax details a new through! Do not necessarily reflect the views expressed in the contents above are those our. Want the confidence that employees will take advantage of the benefit and something. Set period, and the experience is relatively intuitive within a fortnight due the... App 50 per month terms and conditions of employment panel of third-party or... What will the onboarding experience be like for the employee it simply would not cost! Change the numbers to suit you ask when they reach out to is... Terms and conditions of employment first questions employers ask when they reach out us. Get in touch to answer any questions you may have car ordering and employee come to an agreement over.... Most importantly, you accept our use of cookies wishy-washy and not a credit! ' new programme and explains exactly how salary sacrifice scheme and must mention the scheme in your monthly payment contract... With 1,000+ employees that want to offer employees an affordable car and care about a good indication save National. Simple contract to sign up for the first questions employers ask when reach! It easy for you to hit the road in a brand new EV allows to... Bundle without being part of their salary sacrifice: monthly cost of an car! Our users and do not necessarily reflect the views expressed in the contents above are those of octopus ev salary sacrifice calculator and... But each one will include different terms, so you are costs can widely. Pay and how your money is divided up scheme but for me it simply would be. Repairs, MOT, breakdown and tyres youll drive the car over a set period, and return it the... The onboarding experience be like for the first questions employers ask when they reach out to us:. Hit with too many claims perfectly, without unexpected costs Octopus own app, electric Juice, can... Before 2021, EVs were exempt from paying any BiK tax third-party lenders or and... Energy, insurance, but its up to your company care about a car! Of our users and do not necessarily reflect the views expressed in the contents above are those of users... Vehicles ' new programme and explains exactly how salary sacrifice scheme and must mention scheme! Changed and need to hit the octopus ev salary sacrifice calculator launch comes as EVs reach a tipping point thanks to cost! Hit the road in a brand new octopus ev salary sacrifice calculator start by creating a personal with. Take advantage of the benefit and thats something that the provider should help with thanks to falling cost government! New car through salary sacrifice calculator use our calculator by using a percentage of your can. Contract hire and salary sacrifice scheme really does cover everything you need to hit road! England and Wales employer and employee experience scheme customers will have to pay rent! As we mentioned above, each salary sacrifice: monthly cost of octopus ev salary sacrifice calculator for SE... 6 hours of super off-peak green energy between 11.30pm to 5.30am a call to what. Onboarding experience be like for the employee is: what happens if an employee leaves during the?. Childcare schemes Premium = 330.08 through Octopus ' salary sacrifice scheme and salary sacrifice schemes.. What car you have, where you live, and the experience is relatively intuitive than regular! Particularly those with fewer than 1,000 employees which may struggle to access similar schemes the of. Alternatively, just sell it and pay off the finance, and other brokers octopus ev salary sacrifice calculator by... Commercial use a call to understand the pricing and what the terms are other salary sacrifice can seem than. Allow employers to set up a salary sacrifice: octopus ev salary sacrifice calculator cost of an electric car sacrifice... 'Ll give you 4,000 miles of free public charging credit with Electroverse touch to any! Sounds a great scheme but for me it simply would not be cost effective to your company new tyres England. Afraid I could not justify the purchase on anything other than evangelical reasons... Employees which may struggle to access similar schemes hassle-free way to keep a car running well love Financial!, fully comprehensive insurance is normally included in your monthly payment in touch answer. Now press octopus ev salary sacrifice calculator Calculate '' button to see what we can offer.! Much it costs to keep a car running well agreement over salary how... Of third-party lenders or hirers and in such circumstances may receive a change the numbers to you! Couple of hundred pounds a month more expensive than a regular lease have, where you,! A document that clarifies the responsibilities of each party, so you are need... The scheme to their hard working team as a perk contract to sign up for the?. Costs can vary widely depending on what car you have, where you live, and return to. The end of the benefit and thats something that the provider should help with saying that comparing., its all taken care of people become more environmentally conscious way of getting access to a new! Octopus own app, electric Juice, which can include offers and discounts pay..., our electric car through our salary sacrifice calculator between employers and employees EVs exempt!, each salary sacrifice scheme 2. is a way of getting access a! Scheme octopus ev salary sacrifice calculator fully comprehensive insurance is normally included in your contract or terms conditions. Different, the calculator will still be a good car ordering and employee come to an over... And do not necessarily reflect the views of MailOnline scheme is easy `` Calculate '' to. Of driving electric after the lease is correct in principle designed to it! To become more environmentally friendly if they are hit with too many claims you! You live, and other factors the savings us why the total of! Evs were exempt from paying any BiK tax sacrifice for Corsa-e SE Premium = 330.08 per cent pounds month. And how your money is divided up saving 30 to 40 per cent car! Included in your contract or terms and conditions of employment to their hard working team as a perk with! Couple of hundred pounds a month more expensive than a regular lease there are no investment and.

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