ORE Catapult's car salary sacrifice scheme offers all qualifying employees a simple, more affordable and stress free way to drive a brand new electric vehicle (EV) and help reduce the corporation's carbon emissions.
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Through the scheme, you can lease a brand new vehicle under a salary sacrifice arrangement, utilising the discounts available to the public sector. All makes and models with a co2 emission of under 75g/km can be driven under the scheme, with servicing, maintenance and insurance all included.
Salary sacrifice is when you agree to swap part of your monthly pay before tax for a
non-cash benefit, in this case a company car. As your gross salary is lower,
you benefit from savings on your income tax, national insurance and pension
contributions.
Under the arrangement, you will pay a company car ‘Benefit in Kind’ (BIK) tax based on the CO2 emissions and value of the car. To help drive the take up of EVs,
this is set at just 2% to 2025 for electric cars compared to 15% and more for
petrol and diesel vehicles. This is significantly less than the income tax
saved on the sacrifice.
Servicing, maintenance, insurance, breakdown cover and MOT are all included in the fixed monthly price, there is no deposit to pay or credit check required.
ORE Catapult is working in partnership with Knowles Fleet to run the scheme which offers unlimited, personalised quotes based on your car choice and mileage to ensure you find the perfect vehicle for you. Knowles Fleet’s expert team is also on hand to support you throughout the term of your lease.
