EV salary sacrifice scheme can help mitigate 40% tax trap

An electric vehicle (EV) salary sacrifice scheme can help reduce employees’ exposure to the 40% tax bracket, according to Fleet Evolution.

With growing numbers of people set to be caught out in the next four or five years by the Government‘s decision to freeze tax thresholds, the fleet management and salary sacrifice specialist says that the latest figures from the Institute for Fiscal Studies show that almost 8 million people, one-in-five of all tax paying adults, will fall into the 40% tax band of £52,701 - £150,000 by the tax year 2027/8.

These figures include one in four teachers and one in eight nurses and is quadruple the number of 40% taxpayers seen in the early to mid-1990s.

Latest analysis from Fleet Evolution shows that an electric car leased through a salary sacrifice scheme can not only save income tax but it can, for employees with children, also help protect valuable childcare benefits.

Founder and managing director of Fleet Evolution, Andrew Leech, explained that an employee with three children and earning £48,000 a year, would be earning an estimated £55,000 in 2027/28, based on average 5% annual pay increases.

“This will take them into the 40% tax band and means they lose 50% of their childcare benefit, roughly on average £120 a month, as this is index linked,” he said. “At a time of rising inflation, this is something they can ill-afford.”

Leech said that by opting for an electric car via salary sacrifice, employees would see multiple financial and welfare benefits. “A typical salary sacrifice electric car, such as an MG4 Long Range, would reduce their gross salary by £6,000 per annum, bringing them back down below the £50,000 mark,” he added.

“But for individuals affected by the freezing of the personal allowance, the benefits are even greater, as they would save around £50 a month from the additional savings, plus retain full child benefit if this relates to them, as much as £120 a month in this example.

Allstar partners with Fuuse to increase electric vehicle charging network

Allstar has announced that that charge point management system, Fuuse, has joined its expanding electric vehicle (EV) charging network.

The partnership means that its Allstar One Electric card can now be accepted at an additional 466 charge points, across 124 locations.

This brings the total network to more than 4,200 charging locations with over 11,900 charge points.

Fuuse is a fully flexible EV charge point management platform, enabling charge point operators (CPOs) to open their chargers to businesses and the public.

The Fuuse network includes many local authorities, as well as nationwide destinations such as hotels, retail outlets, educational settings and health facilities to ensure recharging is as easy as possible. 

The new partnership with Fuuse, says Allstar, allows it to expand its on-the-road offering to those that need to charge their fleet vehicles with speed, ease and convenience.

Tom Rowlands, managing director, global EV solutions at Allstar, said: “As the UK’s fleets continue to transition to EVs, it is crucial that we continue to enhance our proposition and remove the barriers to entry.

“Fuuse is connected with a number of local authorities, hotels and destinations, allowing us to bring in multiple independent CPOs at once, increasing accessibility to drivers. We’re thrilled to be working together." 

Michael Gibson, CEO and co-founder of Fuuse, added: "We’re tremendously excited to be joining Allstar's EV charging network. This partnership is a crucial step in our mission to make public chargers more accessible to all EV drivers, while also minimising friction for fleet drivers as they navigate the transition to EV." 

Octopus Electroverse launches EV charging solution for businesses 

Octopus Energy’s Electroverse has launched new online platform, with customisable reporting functions, to allow businesses to manage their electric vehicle (EV) fleets. 

The new product, which is in Beta phase, aims to help fleets overcome typical challenges businesses face when managing an EV fleet. 

Companies can view and download charging history details like where and when charges took place and how much they cost – all in one dashboard. It can be broken down by group or individual driver and all charges appear in one consolidated invoice.

The Electroverse EV roaming service app will give employees the ability to pay at more than 430,000 public charge points from 470-plus brands globally.

Drivers will also be able to access Electroverse’s interactive global map showing chargers and availability, a route-planner to plan journeys, and in-car support with Apple CarPlay and AndroidAuto.

Matt Davies, director of Octopus Electroverse, said: “With access to over 430,000 public charge points, we’re over the moon to now bring our simple and seamless EV charging solution to businesses.

"This will be a game-changer for companies making the switch and will help them manage their EVs easier than ever before.” 

The Electroverse for Business Beta phase is available for businesses to sign up to today. A subscription-based model will follow shortly. 

Onto partners with Dealer Auction for de-fleeting used electric cars

Onto has partnered with Dealer Auction to launch an exclusive digital marketplace for electric car dealers.

Qualifying traders will have invite-only access to de-fleeted electric cars available for sale from Onto.

With more than 6,000 electric cars in the fleet at any given time, Onto operates one of the largest electric car fleets in the UK, offering a flexible way for people to switch to electric through its all-inclusive monthly subscription.

Onto’s fleet includes over 25 models from various electric car manufacturers, from the Fiat 500e and Renault Zoe to more premium models, including the Jaguar I-PACE and Audi e-tron.

Onto gives its subscribers access to the newest electric cars on a monthly subscription, meaning that once cars reach roughly 18-24 months old, they are made available for dealers to purchase. The new Dealer Auction marketplace will give dealers priority access to this stock at the point of availability.

Russell Brooke, head of remarketing at Onto, said: “As demand for our monthly subscription increases, so does the buyer base for our de-fleeted cars.

“The Dealer Auction digital marketplace will transform how dealers buy these cars, focusing on a data-driven user experience.

“We are a technology-focused business, so a digital solution for our remarketing needs was the only logical next step.”

Le Etta Pearce, CEO of Dealer Auction, added: “Onto has already sold some Zoe and Kona stock to franchised dealers via the closed networks we’ve built for Renault and Hyundai and had a positive experience in terms of performance and speed of sale.

“We heard from buyers that they loved Onto’s transparency and comprehensive approach to presenting their stock. With their own branded marketplace now in place, Onto will realise the same positive results across their full electric car portfolio.”

Fastned launches Apple CarPlay app to find charging stations

Fastned has launched its new station finding app for Apple CarPlay.

With the goal of making fast charging as convenient as possible, Fastned has developed its own Apple CarPlay app. 

Electric vehicle (EV) drivers can now find Fastned stations, check pricing and real-time charger availability directly within their EV’s infotainment system.

Fastned’s software engineers have developed the Fastned App for Apple CarPlay, which is available for Fastned customers who are iOS users and have a compatible EV.

Robin Wouters, director of product and engineering at Fastned, said: “The launch of the Fastned Apple CarPlay app is an important milestone for Fastned.

“The app has been developed in Apple’s closed environment, in line with Apple’s requirements. Our team continues gathering and processing customers’ feedback to further improve the user experience.”

As most of Fastned’s customers are iOS users, the company first focussed on Apple CarPlay. Yet, Fastned wants to provide all customers with the best possible experience, so expansion into other systems such as Android Auto is being explored.