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  • FIRST POST
    • MissSJL
    • By MissSJL 11th Jun 17, 10:26 AM
    • 108Posts
    • 4Thanks
    MissSJL
    Salary sacrifice for cars
    • #1
    • 11th Jun 17, 10:26 AM
    Salary sacrifice for cars 11th Jun 17 at 10:26 AM
    My employer have just introduced a benefit scheme that allows us to finance a car through salary sacrifice. It gives both the employees and employers savings in tax NI and EI etc so it sounds good to me. Has anyone had any experience of it? What does the process involve i.e. credit checks, contracts etc? I'm still waiting for my login details to my benefits account so unable to ask these questions at the mo. Thanks.
Page 1
    • TyreLever
    • By TyreLever 11th Jun 17, 5:31 PM
    • 114 Posts
    • 46 Thanks
    TyreLever
    • #2
    • 11th Jun 17, 5:31 PM
    • #2
    • 11th Jun 17, 5:31 PM
    Login details to your accounts your benefits are paid? Why are you claiming benefits if your in work? If you work part time then its not worth getting a car anyway.
    • GwylimT
    • By GwylimT 11th Jun 17, 5:35 PM
    • 5,808 Posts
    • 10,817 Thanks
    GwylimT
    • #3
    • 11th Jun 17, 5:35 PM
    • #3
    • 11th Jun 17, 5:35 PM
    Login details to your accounts your benefits are paid? Why are you claiming benefits if your in work? If you work part time then its not worth getting a car anyway.
    Originally posted by TyreLever
    In work employee benefits are typically accessed via an online portal. Benefits as in financial assistance is claimed by many working people, including those working fulltime. Not sure why you mentioned these benefits as the OP hasn't.
    Last edited by GwylimT; 11-06-2017 at 5:39 PM.
    • MissSJL
    • By MissSJL 11th Jun 17, 5:37 PM
    • 108 Posts
    • 4 Thanks
    MissSJL
    • #4
    • 11th Jun 17, 5:37 PM
    • #4
    • 11th Jun 17, 5:37 PM
    Sorry? I work full time and I don't claim any benefits at all. The salary sacrifice program is an employee benefit. Thanks.
    • molerat
    • By molerat 11th Jun 17, 5:55 PM
    • 17,005 Posts
    • 11,183 Thanks
    molerat
    • #5
    • 11th Jun 17, 5:55 PM
    • #5
    • 11th Jun 17, 5:55 PM
    You need to understand how the scheme works. You will not get a car completely tax and NI free, you will have to pay tax on the benefit of having the car and if you choose the wrong car it could be costly.
    www.helpforheroes.org.uk/donations.html
    • MissSJL
    • By MissSJL 11th Jun 17, 6:07 PM
    • 108 Posts
    • 4 Thanks
    MissSJL
    • #6
    • 11th Jun 17, 6:07 PM
    • #6
    • 11th Jun 17, 6:07 PM
    You need to understand how the scheme works. You will not get a car completely tax and NI free, you will have to pay tax on the benefit of having the car and if you choose the wrong car it could be costly.
    Originally posted by molerat
    I know it's not tax free, I did state it would make savings for us both as it's taken out of my gross salary not net.

    As far as I'm aware the Benefit In Kind is less for models with lower emissions. Electric or hybrid cars also have the most discount to their retail price.
    • maninthestreet
    • By maninthestreet 11th Jun 17, 7:06 PM
    • 15,091 Posts
    • 13,462 Thanks
    maninthestreet
    • #7
    • 11th Jun 17, 7:06 PM
    • #7
    • 11th Jun 17, 7:06 PM
    Surely salary sacrifice schemes for benefits such as cars was stopped in the last budget??
    "You were only supposed to blow the bl**dy doors off!!"
    • MissSJL
    • By MissSJL 11th Jun 17, 7:07 PM
    • 108 Posts
    • 4 Thanks
    MissSJL
    • #8
    • 11th Jun 17, 7:07 PM
    • #8
    • 11th Jun 17, 7:07 PM
    Clearly not! Seen quite a few companies online that do it done I've been researching.
    • SeanG79
    • By SeanG79 12th Jun 17, 2:25 PM
    • 853 Posts
    • 380 Thanks
    SeanG79
    • #9
    • 12th Jun 17, 2:25 PM
    • #9
    • 12th Jun 17, 2:25 PM
    Surely salary sacrifice schemes for benefits such as cars was stopped in the last budget??
    Originally posted by maninthestreet
    Definitely wasn't stopped, although there was mention of stopping it prior to the budget. Considering most councils and public sector businesses offer similar schemes to their employees, I think it is unlikely it will be fully removed, although I think there will be a definite sway to only including low emissions/ultra low emissions vehicles.
    • Guest101
    • By Guest101 12th Jun 17, 2:36 PM
    • 15,147 Posts
    • 14,752 Thanks
    Guest101
    Are you sure it's a car purchase, not a car lease?
    • molerat
    • By molerat 12th Jun 17, 4:44 PM
    • 17,005 Posts
    • 11,183 Thanks
    molerat
    I thought that the changes meant that from April 17 only cars under 75g C02/km were allowed under salary sacrifice.
    www.helpforheroes.org.uk/donations.html
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