Del Prado
31st Mar 2010, 15:00
There seems a lot of talk about a green car salary sacrifice scheme these days. Here's some more reading just in case your employer brings it in.
https://www.ss4c.com/
https://www.ss4c.com/?p=examples
I found this paragraph interesting..
Although the Employer’s National Insurance Contribution (NIC) is still payable (12.8%) on the provision of a car to the employee, this is typically substantially less than the Employer NIC that would have been paid on the salary being sacrificed, resulting in a financial saving of several hundred pounds over the term of a vehicle contract for the employer.
In a survey carried out by Employee Benefits Magazine in 2007, they found that 42% of employers pass the Employer’s NIC savings that the company makes onto the employee, 18% of companies split the savings between the employee and the company, and 39% do not pass any of the savings onto the employee at all.
sounds like this scheme is either cost neutral for an employer or a nice little earner. Wonder what my employer would do.:suspect:
https://www.ss4c.com/
https://www.ss4c.com/?p=examples
I found this paragraph interesting..
Although the Employer’s National Insurance Contribution (NIC) is still payable (12.8%) on the provision of a car to the employee, this is typically substantially less than the Employer NIC that would have been paid on the salary being sacrificed, resulting in a financial saving of several hundred pounds over the term of a vehicle contract for the employer.
In a survey carried out by Employee Benefits Magazine in 2007, they found that 42% of employers pass the Employer’s NIC savings that the company makes onto the employee, 18% of companies split the savings between the employee and the company, and 39% do not pass any of the savings onto the employee at all.
sounds like this scheme is either cost neutral for an employer or a nice little earner. Wonder what my employer would do.:suspect: