Web Tools

Salary sacrifice

There are very low levels of personal taxation if companies provide their employees with electric company cars, and this is likely to last at least until April 2028. So there is a big rush to set up schemes that allow drivers to give up highly taxed salary in exchange for lowly taxed cars, and keeping the Employer either neutral or making a small saving to cover administration costs. We can provide webtools that explain the costs and benefits in full detail to both sides.

To get an idea of the different ways of setting up a scheme, there is a general illustrator at https://comcar.co.uk/taxtools/salarysacrifice/ (or just search Google for “car salary sacrifice calculator” for the number one organic result ). This quickly shows that an expensive petrol car is a bad idea, whereas an electric is great. The various settings can be thought about and customised to produce whitelabel versions, for instance the one we provide to CBVC Vehicle Management at https://cbvc-salsac.comcar.co.uk/ .

Key features of the sites we can provide include:

Links to major insurance providers so insurance costs are delivered by api
Use of Ratespanel.co.uk to upload single or multiple contract hire ratesheets
Precalculation of the gross salary sacrifice amount as well as the impact on net pay for all vehicles . The user can then filter on key criteria, or build a choice list.
Inclusion of all tax flows, insurance costs, home chargepoint installation or any other cost that is needed
Multiple settings to define how the scheme will work.
User logins can be set up in Ratespanel.

By Rupert Russell
Director, Carmen Data
Date: 08 Feb 2023 12:13