There’s never been a better time to go electric with only 2% company car tax until April 2025. Our Car Benefit Scheme is the most cost effective way to drive electric. The scheme is a salary sacrifice car scheme and so monthly reductions are taken from your salary so no need to set up any direct debits and no need to pay any deposit! With tax and National Insurance savings plus a comprehensive motoring package accompanying your brand new car, this really is a better way to drive electric!
Log in and view the cars available to see what savings you could make.
Like Cycle to Work and Childcare Voucher schemes, employees can offset some of their salary in exchange for a brand new fully insured and maintained car. It’s the new way to drive! Simply choose your car to meet your needs and let us take care of everything for you. With every type of car available, from high performance cars to the latest in electric vehicles and hybrids, we have something to suit everyone and we’ll support you 24/7, mile by mile.
Each of our cars comes complete with insurance, routine servicing, maintenance and repairs, annual road tax and RAC breakdown assistance. All you need to do is add fuel/electricity and top up any vehicle fluids listed in your vehicle handbook*. When you come to return your car, you simply hand it back subject to any excess mileage or vehicle damage costs.
*You’ll also need to pay any fines you incur.
Once you’ve logged in, select the car you want and customise it, choose the length of the agreement and your expected annual mileage. Click ‘Order Now’ and we’ll send you your documents electronically for you to read through and sign.
Your order will then be sent to your employer for approval. Once approved, we’ll order it, allocate a production slot and keep you updated with an approximate delivery date.
Your chosen car will get built to your requirements and once this has been done, it’ll be delivered to your local dealer who will then get in touch with you to arrange a date from them to deliver your brand new car to a UK location of your choice!
A great perk that means you can enjoy a nice new set of wheels without any deposit or ongoing running costs. The scheme includes road tax, insurance, MOTs, maintenance, accident management, breakdown assistance and routine repair bills.
It really is the easiest way to run a brand new car.
Log in and choose your carVolkswagen Financial Services | |
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No upfront deposit | |
Running costs included | |
Car insurance | |
Full RAC breakdown cover | |
Routine service, repair and MOT | |
Replacement tyres | |
Tax savings available on electric cars | |
Manufacturer and fleet discounts |
When organisations provide a car as a benefit to their employees, HMRC class it as a Benefit in Kind (BiK). All taxable benefits have to be valued so HMRC can determine the correct amount of tax to be charged. As a result, this means that with our car benefit scheme, you will need to pay a Benefit in Kind (also known as company car tax). Some employee benefits have a specific value but with a car, the tax is based on the ‘use’ of the car so is calculated differently to other benefits. Our online quotation system will automatically calculate the correct BiK value of the car you’ve chosen based upon the CO2 emissions, additional options, fuel type, P11D value and applicable tax rate according to the salary you’ve entered in the system. It will also take into account whether or not the car is electric.
We’ll also display the ‘Monthly Net Amount’ (which is the impact on your take home salary) for the next three years as the tax rates charged by HMRC increase each year.
For electric cars, there is just 2% Benefit in Kind tax until 2025. This means electric cars are the most affordable cars on the scheme.
For Ultra Low Emission Vehicles (ULEVs), you pay tax on the Benefit in Kind value. This value is determined by the cars P11D value (list price, including extras and VAT, but without the first-year registration fee and vehicle tax) and then multiplied by the BiK rate which is based on the CO2 emissions and fuel type. This figure is then multiplied by your tax rate to calculate the annual company car tax.
For cars with CO2 emissions above 75g/km, the taxable benefit is determined by the higher value of either your income tax saving on the gross salary sacrifice amount or the Benefit in Kind value.
If your employer doesn’t deduct tax at source then HMRC need to be notified that you have this employee benefit. Most employers will contact HMRC with this information via the P46 (Car) form, but you should confirm this with your HR department as it is the driver’s responsibility to ensure HMRC are informed of any change.
To learn more about Benefit in Kind tax and how it’s calculated, you can visit the gov.uk site for more information https://www.gov.uk/tax-company-benefits/tax-on-company-cars
No hidden fees, no deposit and only the best cars available. Drive your way to bigger savings today.