Fleet News

Interleasing claims £1,000 per car saving for new structured scheme

INTERLEASING has launched a tax-beating company car scheme that it claims can save employers £1,000 per vehicle per year.

It has already moved its own company car drivers on to the structured employee car ownership scheme, called Alto, which is aimed at organisations running more than 400 company cars.

Nick Brownrigg, managing director of Interleasing, said the new carbon dioxide-based benefit-in-kind tax system could cost some drivers hundreds of pounds a year in additional taxation, and warned that fleet decision-makers face a significant ongoing drain on their resources to administer staff questions and concerns.

'British firms have four choices: do nothing and accept that staff will be demotivated when faced with a new tax hike; pay them greater salaries to accommodate their increased costs; force drivers to accept smaller engined cars or change the way the fleet is funded,' he said.

'Alto cushions the blow of the new tax, potentially saves £1,000 a vehicle on existing costs, and still allows firms to provide a company sponsored car.'

Through Alto, drivers will technically own their cars, thereby avoiding company car tax, funding the vehicle through benefit-in-kind tax savings and top-up cash allowances.

The scheme allows employers to retain control of their fleets and specify the range of vehicles offered to employees, with Interleasing securing full Inland Revenue approval prior to implementation.

The contract hire company will also support drivers with a dedicated helpdesk, and can supply all-inclusive service and maintenance packages so the scheme 'feels' like a traditional company car.

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