In assisting employees to switch to electric vehicles
In April of 2020, the government introduced an incentive tax to help employees make the switch to electric cars, be green and pay less tax. We considered creating this incentive for our group, but we were disappointed when we couldn’t get the tax benefits in full.
This is the place The Electric Car Scheme comes in.
The green car salary sacrifice scheme is an innovative employee benefit which helps the employees and you save between 30 and 60 percent on electric cars by way of salary sacrifice (effectively taking your salary prior to tax). The scheme is funded by the government in order to encourage the use of electric vehicles, and to aid in helping the UK achieve net zero.
It’s akin to the cycle to work program for electric vehicles, and Electric Car Scheme Electric Car Scheme sets up and manages the salary sacrifice program for your business free of charge.
It’s simple to be Green
The benefits for the environment of electric cars are evident, they produce no emissions of greenhouse gases, changing to electric power as the main source of fuel will eliminate over 70 percent of the carbon emissions of driving.
There are some other myths about electric vehicles. Many are worried about the battery running out in the roadway however, since the majority of automobiles today have a range of more than 200 miles and most trips are under 100 miles it is no longer a problem. The convenience of charging at home as opposed to waiting in line in petrol stations is an advantage!
Going green is a lot less costly than you imagine – the cost of fuel per mile is about 4-5x less for electric vehicles in comparison to petrol vehicles (possibly even more considering the cost of fuel at which it is now! ).
As a nation has committed to not having any new petrol or diesel cars to be sold before 2030. Therefore, we are all likely to embrace the change in the near future. Indeed the majority of innovative employers and employees are already doing it today.
Ground-breaking Employee Benefit for Employees
Modern employees are more inclined to work for organizations who share their ideals. Protecting our planet and working towards Net Zero is important to employees.
Additionally, the battle for talent is getting heated. Retention and attraction of talent is harder more than ever before, due to the effects of Brexit as well as this pandemic (and that Great Resignation set to come out following Christmas! ).
With a standard employee savings of c.PS10,000 over three years Green salary sacrifice benefits such as The Electric Car Scheme are extremely valuable and can be a game changer in keeping and attracting the top talent!
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