Salary SacrificeExpediting the transition holistically

Vehicles | Charging | Energy

Introducing…

The one-stop-shop for everything you need to go electric

+ + +

We pull everything together to make it easy:

The cars

(including financing)

Renewable

energy tariffs

for EV drivers

Smart

charging

for your EV

Expert support

for every step of

your electric

journey

What is salary sacrifice?

• Employee benefits as they

• save income tax

• save national insurance

• pay Benefit in Kind tax on the car - but the BiK rates for electric cars are very low

• Employee also benefits because:

• No up-front payment

• Can include everything in pre-tax payments e.g. insurance, and servicing & maintenance

• Employer also saves national insurance

Salary sacrifice allows employees to pay for their lease out of gross salary unlocking

savings of up to 60% on their car costs

Case study 1: James on £30k salary gets a Nissan Leaf

Max’s net payment Apr 2020 - Mar 2023

£297per month

Benefit in Kind rates for electric cars are

very low for the next few years.

The monthly BiK payment =

Value of car x BiK rate x marginal tax rate / 12

BiK rate Net monthly cost

2020-21 0% £298

2021-22 1% £303

2022-23 2% £308

Max’s monthly cost(paid through his salary)

£430

Savings on Income Tax -£86

Savings on National Insurance -£52

Benefit In Kind payment +£0

Net Monthly Cost £292

PRICE BREAK DOWN 2020/21

James

He works in the analyst

team and drives his

Nissan LEAF every

weekend to play golf

Salary:

£30,000

Drives:

Lease term:

Annual Mileage

Nissan LEAF N-

Connecta

36 months

10,000 Miles

Case study 2: Max on £40k salary gets a Nissan Leaf

Max’s net payment Apr 2020 - Mar 2023

£303per month

Benefit in Kind rates for electric cars are

very low for the next few years.

The monthly BiK payment =

Value of car x BiK rate x marginal tax rate / 12

BiK rate Net monthly cost

2020-21 0% £298

2021-22 1% £303

2022-23 2% £308

He works for a small IT

firm and drives his

Nissan LEAF to the

beach every weekend to

walk his dog, Fred

Case study 2: Max on £40k salary gets a Nissan Leaf (part 2)

He works for a small IT

firm and drives his

Nissan LEAF to the

beach every weekend to

walk his dog, Fred

Employers save on national insurance

Employer saving = the amount sacrificed

(gross monthly cost) x 13.8%

So Max’s employer saves £60 p.m.

(the equivalent of £725 p.a.)

Max’s employer savesApr 2020 - Mar 2023

£60per month

Case study 3: Maddie on £80k salary gets a Tesla Model 3

Benefit in Kind rates for electric cars are

very low for the next few years:

BiK rate Net monthly cost

2020-21 0% £329

2021-22 1% £343

2022-23 2% £357

Maddie’s net payment Apr 2020 - Mar 2023

£343per month

Other benefits & incentivesGovernment incentives

+ there are more benefits with electric cars…

• Up to 90% saving on fuel costs (average

saving of £135 per month)

• Up to 70% saving on servicing,

maintenance and repair

• Fleet discounts targeting EVs

• Up to £3,500 grant for a new vehicle

• £500 off a new home or workplace

charging socket installed

• Exempt from Vehicle Excise Duty (road

tax) – except premium cars

• Exempt from London Congestion Charge

• Free / discounted parking in places

+ future proofed for Clean Air Zones

Salary sacrifice for employers

• No cost to implement

• No risk to employer

• Optional cover for:

• Resignation & redundancy

• Sick leave Maternity /

Paternity / Adoption leave

• 10 x cars = 15 mins admin

per month

• Driver days on site

• EV education sessions on site

• Hassle free driving with our full

cover package

• Hotline to our EV experts

• Expert team to scope up any on-

site charging

• Installation by specialist, trusted

providers

• Fast chargers that balance loads

& allocate spend by users

Low admin / high benefit Charging to fit your locationEmployee engagement

Salary sacrifice for employees

All driving costs covered,

and eligible for salary sacrifice

✓ No up front payment

✓ All servicing, maintenance and repair

✓ No quibble tyre replacement

✓ Full European breakdown cover

✓ Vehicle Excise Duty (“road tax”)

✓ Relief vehicle (optional)

• Home charge points from £395 fully installed

• Day one access to the largest network of public

charge points

• Access to value electricity tariffs including green

energy for zero-carbon transport

Charging to fit your lifestyle

We can help you with marketing and press engagement

We can run events for your employees

to discover and test drive electric cars …

… and engage the media about the actions you

are taking to tackle climate change & local air

pollution

Contact details Jake Collis

Senior Partnerships Manager

07906 806831

jake.collis@octopusev.com

www.octopusev.com

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