Fleet News

Why salary sacrifice represents the way forward

Salary sacrifice (sal/sac) has enjoyed a renaissance over the past year, as a growing number of employers tapped into the low benefit-in-kind (BIK) tax rates to launch schemes as part of flexible benefits packages.

Salary sacrifice (sal/sac) has enjoyed a renaissance over the past year, as a growing number of employers tapped into the low benefit-in-kind (BIK) tax rates to launch schemes as part of flexible benefits packages.

Some have also started to consider sal/sac as a viable alternative to a traditional company car scheme, helping to speed up a move to ultra-low emission vehicles (ULEVs) or to unlock the national insurance contributions (NIC) savings.

Construction and property services business Willmott Dixon switched its car funding policy from a standard three-year operating lease to a sal/sac scheme at the start of the year.

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Related content

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee