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CVM signs up corporates to iLease staff contract hire benefit scheme

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Aon Plus, Carlsberg and Carnival have recently added iLease, CVM’s online vehicle personal contract hire (PCH) platform to their own staff benefits platform.

CVM’s iLease launched in January 2016 and the company says it is simple and easy to administer for both the employer and employee.

With the Chancellor’s Autumn Statement confirming earlier fears that the taxable benefit for vehicles over 75g CO2 will be removed from the Salary Sacrifice sector, a move that will affect thousands of businesses currently offering the benefit.

No payroll administration is required, and there are no vehicle restrictions to the individual yet discount levels still compare favourably to existing corporate schemes.

Employees are given access to a secured on-line portal from which they can choose how much they wish to spend, on what car and can add as many factory options as they wish.

Employees agree a fixed price monthly rental they’re happy with for the duration of the agreement, which can be anything between 2 and 4 years and from 6,000 to 30,000 miles per year.

Paul Hollick, managing director of The Miles Consultancy (TMC) and chairman of the Institute of Car Fleet Management (ICFM) said: "iLease provides employees with a unique personal lease quotation tool which enhances their current staff benefits package. The monthly rates that iLease have demonstrated offer excellent value on a product which offers an elegant and simple alternative to salary sacrifice for cars.

Jaymie Stanbrook, iLease senior account manager said: "We are delighted to be working on such an exciting project at a time where vehicles are fast becoming a commodity and personal leasing is the solution to sourcing a vehicle at a fixed monthly price; not dissimilar to our mobile phone contracts."

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