Salary Sacrifice 0. Like Reply 8 Likes. But that's not all. Terms apply. 3 days ago. The project installed over 100 AC chargers and management systems with remote charging devices supervision in public parking lots throughout Taipei. Through a salary sacrifice arrangement employees can benefit from an affordable electric vehicle leasing scheme which allows employees to lease an electric vehicle of their choice, as well as . Bear in mind your saving is, this: Assume 500pcm for the Tesla (NET) Fuel cost PA Volvo about 1500 (61mpg on 15k, though probably more) Fuel Cost Tesla (assume 10p rate) at 3.8KWH/mile about 400 PA. Then car tax, insurance, servicing etc. EV leasing, expert advice, great deals on the best cars, to the best charging solutions for you - the whole package. The newly set up Edinburgh-based loveelectric, which specialises in supplying electric cars through salary sacrifice schemes, says a higher-rate taxpayer (those earning 50,271+) can typically . Driver Criteria. Please note that this is calculated based on charging your car during the off-peak window (at 5p kWh this is 100 of credit). The figures above are the estimate of the true net monthly cost to the employee of taking this car via salary sacrifice. Save money and carbon with our salary sacrifice car scheme. The Octopus EV salary sacrifice scheme claims to offer everything you need to hit the road in your brand new EV, including the car, charger, energy, insurance, servicing, maintenance, breakdown and tyres. Octopus communication and help during the . However, BIK tax is determined based on the CO2 level emissions from the vehicle which means that for electric cars it'll be very low. Salary sacrifice makes electric cars cheaper than petrol or diesel- a bold claim but true! -Effective (net) cost per year - 1700 (vs 6k private lease, 71% saving) -Extra into SIPP - 6800. Harvey Williams. We're expanding our Electric Vehicle Growth Team in Weybridge. As businesses wake up to the environmental and social governance (ESG) benefits of their employees driving electric vehicles, so Octopus EV has announced it has taken on its 1,500th business client. What are the benefits of a salary sacrifice scheme for an employer? Delta assisted the Taipei City's Parking Management and Development Office (PMDO) in building a fully functional electric vehicle (EV) charging facility featuring easy deployment and management. A salary sacrifice scheme allows employees to drive a fully electric company car, by forgoing a portion of their gross salary. The Electric Dreams Salary Sacrifice Scheme includes no hassle insurance in one price. Here's how the costs of the two cars stack up against each other. Dubbed Electric Dreams, the electric vehicle (EV) leasing company is claiming an average of 14,445 over three years is being saved by drivers already signed up. Octopus Electric Vehicles reserves the right to stop this promotion at any time. The latest addition to the BMW electric lineup. Octopus Electric Vehicles | 31,561 followers on LinkedIn. Not only can you make savings each month when you switch to an electric car through our salary sacrifice scheme, but you also get to . Octopus Electric Vehicles has 5 stars! Octopus Electric Vehicles today announces the launch of a new leasing service - Electric Dreams - offering 100% electric salary sacrifice schemes, to save employees thousands as they switch to clean green driving. Octopus EV offers a business's employees a new EV under a salary sacrifice scheme. ID.3 City Pure Performance: Gross Salary Sacrifice = 331.38 Savings on income tax & NI = 106.05 Benefit in Kind (BiK) = 4.93p/m this tax year -> increasing to 9.86 p/m for next 3 years Avg monthly cost over 4 yrs = 233.96 . The current BIK is 2%, and is set to remain that until 2025. By. If you OWN it, brilliant, money in the bank. Neil and Stuart from TPXimpact explain the benefits of their business being part of Octopus Electric Vehicles salary sacrifice scheme. More than 1,500 companies have joined Octopus Electric Vehicles salary sacrifice scheme since it launched just over a year ago. 0. 7,998.40 - is the effective 'additional' salary that I'm to be taxed on (Total cost of vehicle X BiK rate) 7,620.00 - is the salary im sacrificing (company has to pay 635 a month for the vehicle so 635 X 12) 40,000.00 - My current taxable salary. Octopus EV salary sacrifice lease versus typical personal lease including initial rental cost. 29,447 followers. This provides savings of 290 per month, inclusive of income . 7mo. The figures are based on the employee's marginal rate of income tax* which impacts the net salary sacrifice value. . The calculation for the 8,000 free miles! It includes the car, full maintenance and insurances. Octopus Electric Vehicles has revealed a new 100 per cent electric car leasing service for businesses looking to become more environmentally friendly. 43. Octopus Electric Vehicles Limited is authorised and regulated by the Financial Conduct Authority, firm . Terms apply. 16% - BiK rate for electric vehicles in 2019 = 7,998.40. Funding from HSBC UK will allow Octopus Electric Vehicles to support the growth of its salary sacrifice scheme, which aims to make the switch from a petrol or diesel car to an EV easy and affordable for businesses and drivers. The whole package - the car, charging and green energy. Darryl Davies. Electric-car leasing provider Octopus Electric Vehicles has launched a new salary-sacrifice scheme called Electric Dreams, to enable businesses of all sizes to offer electric-car leasing to their employees.. The i7 combines a spacious, tech-packed interior with . Like Cycle-to-Work, employees save up to 40% on car costs. The amount will be deducted before tax and National Insurance contributions are applied, akin to childcare, gym membership or cycle-to-work schemes. Date of experience: October 22, 2022. 18 comments on LinkedIn 60% Tax Rate. We're looking for an Electric Vehicles Sales Specialist, who will be responsible for managing sales directly with our customers focusing on our salary sacrifice product. Check out what 795 people have written so far, and share your own experience. Would be even better if Octopus Electric Vehicles / Octopus Energy sorted out . . "I don't know why any employer wouldn't offer this" Stuart and Neil from TPXimpact, one of the forward thinking companies that joined the electric . London, England octopusev.com Joined January 2018. . To access these schemes. . Quality service. The company, which launched in 2018 and has become one of the UK's go-to electric vehicle specialists, will use the . You will be the face and the voice of the Octopus Electric Vehicles, advising and supporting customers throughout their journey towards purchasing an EV. Monthly cost of the salary sacrifice Corsa-e SE Premium = 330.08. Motor Vehicles Office Tel:(02)27630155 E-mailgc_mvo@mail.taipei.gov.tw Address : No.21, Sec.4, Bade Rd.,Taipei, 10561 City Bus : Take 257, 205, 276, 203 or 202 and get off at the MVO stop MRT : Get off at Dr. Sun Yet-Sun Memorial Hall Station, check the map, then walk 10 minutes to reach the MVO Paid parking spaces (free for the handicapped) are available Octopus said many drivers are saving 30 to 40 per cent and some up to 60 per cent. Example 1: Hyundai IONIQ. Features At home charger and installation is included in the lease cost. Octopus Electric Vehicle Leasing Scheme. Pantheon joined our EV salary sacrifice scheme back in May 2021 to give their team a great employee benefit - access to big savings on electric cars. It is one of the fastest growing schemes of its kind in the UK and one of the reasons for Octopus' five-star Trustpilot rating . . 07 Apr 2021. 379 p/m. =. Octopus is best known as an electricity and gas provider, but in 2018 they branched out to electric vehicles and the salary sacrifice scheme. DD. Leasing EVs through an effortless salary sacrifice package that empowers businesses and employees. Our electric car salary sacrifice scheme is free to join and saves your business money on NI contributions. 1 review. businesses need to partner with a specialist provider, such as Hippo. Volvo assume 400 insurance, . GB. 'Salary sacrifice makes electric cars a . 1w. | We are the electric car specialists. For example, for a 40 per cent tax rate payer opting for a Tesla Model 3, the typical net cost for an employee is 435 every month with the gross sacrifice from salary coming in at 726 per month. Octopus said many drivers are saving 30 to 40 per cent and some up to 60 per cent. For battery-electric cars, BIK tax is 1% for 2021/22, and 2% for 2022/23. Octopus Electric Vehicles Limited is authorised and regulated by the Financial Conduct Authority, firm reference number 809736, company number 10754317. This is just the latest move in Unum UK's . Octopus Electric Vehicles. 45% Tax Rate. The Electric Dreams scheme offers a 'salary sacrifice' system, similar to UK's cycle-to-work scheme that allows employees . This is achieved by those drivers sacrificing some pre-tax salary in . Monthly cost of the personal lease Corsa 1.2 SE Edition = 399.52. Available on PCH, BCH and selected Salary Sacrifice deals. BMW i7 | Octopus Electric Vehicles. Similar to the popular cycle-to-work scheme, employers can give their staff a highly valuable benefit that is also . The scheme is the next step in the company's mission to help businesses reduce their carbon . The salary sacrifice scheme for electric cars provides an all-in-one service for drivers looking to make the switch. Age. Example 2: Skoda Enyaq. This is give me as real-world scenario as possible. Salary sacrifice specialists. An electric vehicle (EV) version of the popular cycle-to-work scheme is being launched this week by Octopus Electric Vehicles, with participants expected to save an average of 14,445 over three . The package includes 5,000 free miles of home charging with Octopus Go, access to 5,000 miles of Electric Juice credit to use across the UK . Octopus Electric Vehicles has launched a new leasing company offering 100% electric salary sacrifice schemes. Redirecting to https://octopusev.com/salary-sacrifice-employers (308) Octopus Electric Vehicles has hit a milestone of over 1,500 companies joining its salary sacrifice scheme in just over a year since its launch.. It's what has helped make salary sacrifice the cheapest way to own an electric car. You . Nicholas Hellen from The Times caught up with us recently on how getting your car through work in return . In the UK, Octopus Energy Group's EV arm, Octopus Electric Vehicles has launched a new leasing service called Electric Dreams. The service aims to help employees make the switch to clean driving easier and cheaper. . The. Octopus Electric Vehicles has revealed a new 100 per cent electric car leasing service for businesses looking to become more environmentally friendly. For example, for a 40 per cent tax rate payer opting for a Tesla Model 3, the typical net cost for an employee is . BIK is the value of the benefit you receive - in this case, a car. -. Wendy Laverty. 294 p/m. We offer the whole package from expert advice, to great deals on the best cars, to . Since the car is for personal use, the electric salary sacrifice scheme will be required to pay Benefit in Kind tax. Verified. WorkLife has partnered with Octopus to provide a new, cost-effective and sustainable alternative to owning a car. the salary sacrifice scheme gets makes a 48k car very affordable. They chose Octopus Electric Vehicles because our specialism in pure EVs complements their Environmental, Social, and Governance (or ESG) agenda. Show your team you care. Octopus Electric Vehicles Limited is authorised and regulated by the Financial Conduct Authority, firm reference number 809736, company number 10754317. . -Effective (net) cost per year - 3100 (vs 6k private lease, 56% saving) -Extra into SIPP - 4350. August 1, 2022. Your need that 40% saving to pay for new batteries when they need replacing. The savings for both employee and employer can be significant. Free to set up and simple to run. Salary sacrifice is an employee scheme that enables people to exchange part of their gross (before tax) salary for a non-cash benefit, such as a bike, season ticket or brand-new electric car. April 22, 2022. LONDON (April 22, 2022) - On Earth Day a movement that's been campaigning for more than 50 years to protect the planet we live on leading employee benefits provider Unum UK announces an electric vehicle (EV) salary sacrifice program for its 800+ permanent UK employees. 11 comments on LinkedIn Great for businesses and employees, great for the planet. The salary sacrifice scheme for electric cars provides an all-in-one service for drivers looking to make the switch. After we realised how good Salary Sacrifice was - making EVs a no brainer - our team has worked tirelessly to design and deliver a scheme that makes it easy and cost-neutral for companies of all shapes and sizes to set up and run. The product operates on similar principles to the government's cycle-to-work scheme: employees pay a fixed amount out of their gross pre-tax salary each month. =. Boost your employee benefits with our fully electric car salary sacrifice scheme.
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