What is an EV salary sacrifice scheme?
Think cycle-to-work but for electric cars. An EV salary sacrifice scheme takes off the cost of an EV from gross earnings (before tax and NI), saving employees up to 40% on the monthly cost.
Octopus EV salary sacrifice scheme not only does this, but also has added benefits, providing you and your team with everything needed to hit the road: EV, charger, energy. The lot.
Why should a business join an EV salary sacrifice scheme?
Now is more important than ever to join the electric revolution. While tackling climate change and helping with the transition to EVs (before the ban of petrol and diesel cars in 2035), you as a business are showing forward-thinking, as well as care for both employees and the environment.
Research shows that 61% of employees want to make the switch to an EV, but price is a key factor for 78% of them. And 74% of employees said they’d want their employer to offer an EV salary sacrifice scheme when they were shown what’s included.
What are the key benefits of Octopus EVs salary sacrifice scheme to the business/employer?
1. It can help the business to hit net zero targets
Environmental consciousness is of growing importance and businesses that want to become B-corps , or become carbon neutral, should consider providing an EV salary sacrifice scheme. It not only shows both your team and customers that you care about fighting climate change, but on average, a business can save 8.2 tonnes of waste, per year, with EV salary sacrifice.
2. It boosts your benefits package (and employee retention)
Benefits packages not only help to attract talent but are a huge part of employee retention. 75% of employees say that they’re more likely to stay at their work because of their benefits package.
3. The business pays less National Insurance
Your business saves on National Insurance, which many opt to put back into the scheme.
4. There’s minimal risk to the business and no sign-up fee
We have built-in early termination protection that helps to lessen the risks to both the employee and employer, just in case any unforeseen circumstances arise.
5. Top-tier service and bespoke company events
With a dedicated Account Manager, and plenty of resources at your disposal, Octopus EV not only make sure you and your employees are well educated, they also can organise regular bespoke events – including chances to test drive the most popular EVs on the market.
What are the key benefits of Octopus EVs salary sacrifice scheme to the employee?
1. You get the whole EV package
In one simple monthly payment, you get access to all of the above and access to great charging offers.
Check out the full T&Cs for these charging offers here, as well as any eligibility requirements for the above.
2. Hassle-free ordering process
The Octopus EV team is on hand to help you pick the perfect EV. They’re rated 4.8 on Trustpilot, so you’re in safe hands.
3. There’s no upfront deposit required
No upfront cost and no hidden surprises or fees. Everything you need is covered in one monthly payment – giving you peace of mind.
4. Helps you to cut your carbon footprint as well as your costs
Drivers can save up to 2.7 tons of carbon per year vs a petrol car. And if that’s not enough, on average, charging an EV can cut your fueling costs by over half.
Want to learn more?
If you are interested in learning more about EV Salary Sacrifice and how Thomas Carroll Employee Benefits can assist you, please contact us today at 02920 853788 or email us at contact@thomas-carroll.co.uk.
