Supplier adopts car ownership plan
03/07/1998 in NEWS
Under the terms of SECOP, employees enjoy similar support to that provided by a traditional company car, but no longer have to pay benefit in kind tax because they own the car. The scheme uses a combination of the benefit in kind tax savings and a salary top-up to help drivers fund their choice of car and a package which includes maintenance and road tax. Drivers are responsible for buying insurance, but are not exposed to residual value risks, with Zenith taking responsibility for disposing of the cars.