Ready to switch to an electric vehicle?

Powered by LV= General Insurance, ElectriX offers one of the most flexible electric car salary sacrifice schemes on the market, with a flexible range of risk protection options should people leave vehicles to its employees will be perceived by them to be progressive and forwardthinking, and a desirable team to be a part of.

Saving employees money

In summary

Powered by LV= General Insurance, ElectriX offers one of the most flexible electric car salary sacrifice schemes on the market.

We’ve created an attractive scheme designed to benefit both employers and employees. Your team will love our all-inclusive electric car options with no upfront costs – saving them thousands. And to safeguard your business, uniquely we offer the most flexible range of risk protection options in the UK should people leave.

An exciting opportunity

Go the extra mile and deliver real company benefits, give your team the opportunity to drive a brand-new electric car with savings of up to 40 per cent off the price of a lease car. We’ve got home charging with Indra, and insurance through Flow, all wrapped up and included in the package. Goes without saying that servicing, maintenance and breakdown come as standard too for an “effort -free” electric vehicle experience.

Rewards all round

At no cost to your organisation EV salary sacrifice provides a host of benefits. These include attracting and retaining talent, reducing your national insurance contributions, and supporting your sustainability targets. It’s free to set up and with ElectriX, we promote and set the scheme up for you. Want to know more, why not enquire on our website here, and you could be up and running in just a few weeks.

Salary sacrifice

Employees are increasingly looking for more than a good salary, expecting companies to provide them with a range of benefits that go beyond standard ones such as medical care. A company that offers electric

Introducing your team to EV salary sacrifice is a great way to save your team up to 40 per cent on a brand-new electric car lease. Help improve your employee retention rates and attract new talent, all while meeting your sustainability goals. The scheme is free to join and easy to set up and comes with the most flexible range of risk protection options in the UK should people leave.

As an employer, you can save 13.8 per cent on National Insurance on the amount sacrificed by the employee, while they stand to save a considerable amount on tax. It’s an attractive proposition for employees at all levels, especially those in higher tax brackets.

BIK tax

Employees who use an electric car salary sacrifice scheme will have to pay Benefit in Kind (BIK) tax. The government has confirmed BIK will remain at two per cent for zeroemission cars until 2025, after which it will rise by a maximum of just one per cent per year until 2028, when it will be reviewed.

Tax savings

With the monthly leasing fee coming out of an employee’s gross salary, their tax bill will be lower, resulting in tax savings of up to 40 per cent depending on their tax bracket.

As an example of the savings to be made under the scheme, a 20 per cent taxpayer can get an MG4 Hatchback EV from ElectriX and CBVC for a monthly gross salary sacrifice of £491, but this only reduces their net salary by £346. Over a four-year contract, £68 a month can be saved by the employer, taking into account BIK tax.

Surveys have repeatedly shown that the majority of employees in the UK would like to benefit from some sort of salary sacrifice arrangement. If the company you work for already has such a scheme, you probably know about it and are already taking advantage of it. If it doesn’t, why not talk to your staff about introducing one, to join the growing number of companies taking part.

Leasing an EV through a Salary Sacrifice scheme enables employees to make significant cost savings. Starting with overcoming the high initial upfront costs associated with EV ownership. Your team can benefit from Reduced income tax and National Insurance contributions - lease payments are deducted from pre-tax income, resulting in lower taxable income and potential savings.

There is added comfort of 100% exemption from ULEZ and clean air zone charges, along with lower running costs compared to traditional petrol and diesel cars, savings on maintenance costs and reduced depreciation. There are no upfront costs and flexible solutions if they leave during the course of the contract.

As an employer, you could also take advantage of tax incentives and reduced employer National Insurance contributions. The scheme is Free and simple set up – you can offer an ElectriX EV Salary Sacrifice scheme to your employees and it won’t cost you a penny.

ElectriX have a best in market tailored approach to risk with the most flexible range of protection options should employees leave during the course of the contract. L