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EV Salary Sacrifice: How our scheme can transform your business
Enhance benefits and morale with EV Salary Sacrifice
Promote sustainability and financial efficiency
Drive your business forward by supporting green initiatives and employee satisfaction
What is Salary Sacrifice?
Salary Sacrifice is an arrangement where employees agree to forego a portion of their pre-tax salary in exchange for a non-cash benefit, such as an electric vehicle. This reduction in salary results in lower income tax and National Insurance contributions for both the employee and employer, making it a financially attractive option.
Drive success with Salary Sacrifice from Radius
In the ever-evolving landscape of corporate benefits, Salary Sacrifice schemes stand out as a win-win for employers and employees. Specifically, using these schemes to facilitate the purchase of electric vehicles (EVs) is an environmentally conscious choice and a financially savvy one.
As a business owner, implementing an EV Salary Sacrifice scheme through Radius can significantly enhance your employee benefits package, boost morale, and contribute to your sustainability goals.
How it works
Initial consultation
We conduct an in-depth consultation to understand your company’s needs, goals and provide tailored insights and strategies.
Design and customisation
We develop a customised EV Salary Sacrifice plan that aligns with your company’s policies and budget, enhancing employee engagement and satisfaction.
Salary sacrifice agreement
We facilitate the signing of the salary sacrifice agreement, confirm contractual information, and coordinate delivery logistics or other partnership arrangements.
Communication and engagement
We create informative materials, webinars, and presentations to educate employees about the scheme and boost participation and enthusiasm among employees.
Implementation and rollout
We provide access to our online portal, where employees can view available vehicles, and complete orders online hassle-free. These orders will then be sent to you for approval.
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Advantages for employees
1. Cost efficiency: One of the primary benefits for employees is the significant cost savings. By sacrificing their salary for an EV, employees can save on both income tax and National Insurance. This often results in a net cost that is much lower than traditional financing methods.
2. Comprehensive package: Radius’s EV Salary Sacrifice scheme includes charging infrastructure and management app, on-road charge card, vehicle servicing and maintenance including tyres and 24/7 breakdown cover. Providing employees with a low cost hassle-free, all-inclusive package. We work with companies to tailor packages to meet their diverse needs.
3. Access to premium EVs: The reduced net cost allows employees to afford higher-end electric vehicles that might otherwise be out of their budget. This premium access to eco-friendly vehicles enhances employee satisfaction and retention. Access virtually every car make and model in the UK market whilst accessing the best fleet discounts and pricing.
Benefits for employers
1. Tax and NI savings. Employers can benefit from reduced National Insurance contributions on the sacrificed portion of the salary. These savings can add up significantly, especially in larger organisations.
2. Enhanced employee benefits. Offering an EV Salary Sacrifice scheme is a forward-thinking addition to your employee benefits package. It can set your company apart in the competitive job market, attracting and retaining top talent who value sustainability and modern perks. Our offering gives you peace of mind with access to safer, more reliable, affordable cars, that are fully insured for business use.
3. Corporate sustainability goals. Implementing such a scheme aligns with broader corporate social responsibility (CSR) objectives. Reducing your organisation’s carbon footprint by promoting EV adoption among employees showcases your commitment to sustainability, enhancing your corporate image. Radius can ensure you are on the right energy tariff with the right charge card, helping you to be more cost-effective.
Simplify fleet management with Radius
Through partnerships with companies like Radius, managing the scheme becomes seamless. Radius provides comprehensive support, handling everything from vehicle procurement to maintenance and servicing, allowing you to focus on core business operations. Radius also offers protection for early terminations due to maternity, paternity, long term sickness, redundancy and resignation.
Introducing an EV Salary Sacrifice scheme is a smart move for any business aiming to stay competitive, attract and retain top talent, and contribute to a greener future. Both employers and employees stand to gain financially, and the company can proudly advance its sustainability agenda. Partnering with Radius ensures a smooth implementation and ongoing management of the scheme, providing comprehensive support and tailored solutions. Embrace the future of employee benefits and corporate responsibility with Radius.
Frequently asked questions
Can’t find an answer to your question? Talk to the Radius customer support team on 0330 828 2222. We’re here to help you with any questions or concerns you may have.
Why choose Radius?
With innovative solutions built around the needs of our customers, we've established an international reputation for helping businesses grow sustainably.
Expertise
Our team has over 34 years of experience helping more than 400,000 customers globally.
Trust
We are an internationally-acclaimed provider with numerous awards for our products and services.
Choice
Choose from our range of fleet, mobility and connectivity solutions that can be tailored to suit your needs.
Solutions
Use our award-winning technology and services to save your business time and money.
Can’t find what you are looking for?
The customer support team at Radius has a global reach with over 50 offices to offer local contact with an international presence. Let us know how we can help.
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