Paradigm Housing Group has launched TCH Leasing’s salary sacrifice scheme, TCH Salsa, to its 440 staff as part of its commitment to reducing its carbon footprint.
TCH Salsa provides employees with a fully-managed car for a monthly fee (including insurance and service, maintenance and repair costs) which is deducted from their salary before tax.
It enables employees to acquire a brand new car every two or three years under a salary sacrifice arrangement with their employer. The employee agrees to a reduction in their salary which goes towards paying the monthly rental for the vehicle, enabling the employee to save an amount of tax and national insurance on the remainder of their salary.
Many vehicles offered under the scheme emit less than 120g/km of CO2, with a number of sub-99g/km vehicles.
Gary Robinson, head of people management and communications at Paradigm, said: “As part of our wider benefits package the salary sacrifice scheme is a great way to recognise the commitment and hard work of our staff, as part of our wider benefits package, but also helps support our core philosophy of sustainability and in reducing Paradigm’s carbon footprint.”
Ken Buckley, head of sales at TCH Leasing, said: “The Paradigm scheme has been extremely well received by staff since its implementation and we expect to see strong participation figures.
“It has provided many employees with the perfect opportunity to acquire their first car or replace it for a different model, while also enabling them to take full advantage of the tax benefits that salary sacrifice presents.”