WESC Foundation, the Specialist Centre for Visual Impairment in Exeter, Devon, has selected Maxxia’s Lifestyle Lease car scheme to widen the number of employee benefits available for staff.
Established in 1838, WESC Foundation employs around 240 people and offers a range of services for visually impaired young people and adults, including education, outreach services, adult day services, work experience at a range of social enterprise initiatives, and lots more.
The Foundation’s vision is to create a better life for people with visual impairment by providing a specialist centre for education, training and expertise.
WESC Foundation wanted to extend the range of flexible benefits that were available to staff to include a salary sacrifice car scheme and, after reviewing a number of options, selected the Lifestyle Lease car scheme from Maxxia.
The lease agreement is with the employee, not the employer. From April this year, new rules governing salary sacrifice schemes were introduced by the Government such that the taxable value of a benefit under a salary sacrifice arrangement is now taken as the greater of the current value of the benefit or the cash forgone.
In the light of the changes, Maxxia undertook a thorough review of its salary sacrifice offering. It has now introduced new funding structures to Lifestyle Lease which gives users access to a wider array of funding options intended to widen its scope and appeal for employees.
Maureen Biss, deputy chief executive officer at WESC Foundation, said: “We wanted to provide our employees with a wider array of flexible benefits, including the option to access new cars via an employee benefit car scheme.
“Having looked closely at schemes that were available in the market, we selected Maxxia’s Lifestyle Lease solution as being the most suitable to meet our needs and those of our employees.”
Gordon Calder-Jones, director of Maxxia, added: “We are delighted that WESC Foundation has opted for our Lifestyle Lease to provide its employees with a wider choice of flexible benefits.
“The enhancements we have made to Lifestyle Lease give it still wider appeal and further reinforce the benefits of a scheme that provides low-cost access to a new car with a fully expensed support package. This includes all servicing, fully comprehensive insurance, a no-quibble tyre policy, all automotive glass, annual road fund licence and breakdown and recovery assistance.
“For employers, it provides a no-risk method of widening the employee benefits net as the liability attached to early terminations is removed. This allows them to provide staff with access to a wider array of benefits completely risk-free, and helps contribute towards staff retention and attraction targets.”
Developed in consultation with a number of leading accountancy and legal firms, Lifestyle Lease, says Maxxia, aligns perfectly with HMRC's interpretation of salary sacrifice scheme rules and as such is regulatory compliant. Maxxia is approved and regulated by the Financial Conduct Authority.