Speakers Zenith’s Commercial Director, Employee Benefits Schemes Andrew Kirby Reward Director, Santander Elliot Rees-Davies 3. It can be a convenient financing option for both employers and employees, with discounts and finance rates unavailable at dealerships, plus Income Tax and National Insurance savings. For low CO 2 cars, the salary sacrifice required will often be less than the cost of running a car out of taxed income, but many other factors are involved. Grass Roots introduces Zenith’s salary sacrifice car scheme. The employee finances the car through payroll deductions and take advantage of the employer's right to deduct VAT and reduced social security contributions. The evolving world of salary sacrifice car schemes Now and in the future 2. Zenith is also the chosen provider of Santander’s company car scheme called the Santander Essential Business User Scheme. The manufacturers available through the scheme are BMW, MINI, Audi, VW, Vauxhall, Ford, Honda, Kia, Volvo, Hyundai and Mazda. Salary Sacrifice Car Schemes 1. Santander has introduced a salary sacrifice company car scheme for its UK employees. The eligible drivers cover over 8,000 miles a year on business. Zenith Provecta has won a contract with GlaxoSmithKline to fund and manage 1200 vehicles in its employee car ownership scheme on a sole supply and fully outsourced basis. I compared PCP schemes for similar cars and I found Zenith cheaper considering it included: Insurance - Big factor for me with a few accidents in my history and living in … That’s why we offer a range of flexible work options including part-time, job share, career breaks and flexible holiday options. Salary sacrifice car schemes have become a popular part of many organisations’ employee benefit programmes in recent years. Cycle to work schemes; A salary sacrifice car scheme; Flexible work options. The scheme, run by Zenith, is available to all staff. Zenith has started delivering its salary sacrifice cars to Grass Roots, a provider of employee and customer engagement solutions. What we have learned so far about Salary Sacrifice Car Schemes 2. My NHS employer operates a Salary Sacrifice Car scheme which at the point of me starting my current PCP I wasn't eligible for as I was fixed term. Your dealer will structure a Personal Contract Hire agreement to meet your needs based on the car, estimated annual mileage, the agreement duration and any additional services you require An initial rental equivalent to between 3 and 6 monthly rentals may be required after which you pay the agreed monthly rental until the end of the contract The banking group also launched a company car scheme only available to essential business users, which includes 750 eligible employees. Topics for today 1. I am now permanent therefore would be eligible. 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