The monthly lease could be too expensive for employees, or the early termination policy wont be a good fit. This has been updated for the current tax year of 2022/23. How do you manage the employees salary and payroll? I've always bought nearly new cars and run them a long time (as is the FIRE way, Skoda Octavia FTW! The salary sacrifice tax savings are particularly attractive for me. Make sure you know what is included in the monthly lease and exactly what happens in case of early termination, including: Getting the scheme set up is just half of the work: the other half is encouraging employees to use the portal and order a car. Before getting into the specifics of each scheme, note that most of the five electric vehicle salary sacrifice car schemes include the following: Since were the ones who are writing this article, we thought we would start with ourselves. Always remember anyone can post on the MSE forums, so it can be very different from our opinion. Octopus may introduce Please read the important notes before proceeding to use this tool: For example, make sure to ask what the providers partners are. Full electric cars are exempt from Vehicle Excise Dutybut drivers still have to pay Benefit-in-Kind tax if you are going to run one as a company car. Examples include the VW ID3 Pro at Insurance costs can vary widely depending on what car you have, where you live, and other factors. Octopus said many drivers are saving 30 to 40 per cent and some up to 60 per cent. They allow employers to set up an entire car fleet. Our electric car salary sacrifice scheme is free for employers to join and can be set up within just a couple of weeks. Meet the smart meter addicts: The dad who cut back on 1p coffees, the teacher on a 5.50 daily gas limit and the mum so obsessed she hid hers in a drawer! Or if we enter a period of financial difficulty and need to make some employees redundant? Employees can access both combustion and electric cars. Technically you are still paid the same. But really, it's not. Have we let energy giants make too much profit? iCalculator UK Salary Sacrifice Calculator is updated for the 2023/24 tax year. Companies that are interested in business car leasing as well as salary sacrifice. The cost of a personal lease is cheaper at face value than a salary sacrifice car, but thats because it doesnt take into account all of the extra running costs that need to be factored in. The BiK rates range from 2% for zero and low emissions vehicles, all the way up to 37% for cars that create more pollution, The BiK rate for electric cars has increased from 1% to 2% from 6th April 2022, and is currently fixed until April 2025, From April 2025, the BiK rate will increase by 1% every year until 2028, Your income tax bracket (e.g. LEASE SUBSCRIPTION. . When you lease a new car, youll usually make an initial payment at the start of the contract. The BiK rates are calculated based on the cars CO2 emissions. With our salary sacrifice scheme, fully comprehensive insurance is normally included in your monthly payment. Heres how the costs of the two cars stack up against each other. There has been a surge in demand for EVs as people become more environmentally conscious. Again, if you don't have all the car details then just accept the suggested finance and maintenance values that appear in our Car Salary Sacrifice calculator and use your own insurance premium as a starter. We understand that loveelectric might not be a good fit for everyone and that other salary sacrifice companies might be a better fit at times. All in one easy monthly payment. None require an upfront deposit from an employer or employee. We'll check your eligibility then get in touch to answer any questions you may have. Their early termination policy covers dismissal. You can keep hold of your cash and pay for your car out of your monthly salary at one standard cost across the period. Not sure that Octopus/Tasker are routinely hiking the price mind. No off-street parking? Limited access. Just plug in before you go to bed, and in the morning your car is ready to go when you are. Car Model Annual Salary () Calculate How it works Simply select the electric car you're interested in and enter your annual salary. Copyright 2021 loveelectric. This is the really fun part. JavaScript is disabled. Go To Calculator. Fro example, I was getting through a set of good tyres every year (front at least). loveto join? The numbers are based on a 40-year-old driver who earns 40,000, lives in South London and drives 8,000 miles a year. Are investors underestimating the impact of rate rises? To find out how much you can save through HMRC's Salary Sacrifice scheme, just enter your salary in /y, then the car cost per month and the P11D* (see Bear in mind your saving is, this: Assume 500pcm for the Tesla (NET) Fuel cost PA Volvo about 1500 (61mpg on 15k, though probably more) Fuel Cost Tesla (assume 10p rate) at 3.8KWH/mile about 400 PA. Then car tax, insurance, servicing etc. You are using an out of date browser. It may not display this or other websites correctly. Theres also the BiK, but that's pretty insignificant in comparison to bulk amount. 1. Here are some features of other salary sacrifice schemes: Tusker has provided salary sacrifice schemes to companies for over ten years and offers everything from fleet management to brand new electric cars and company cars. Get 4,000 miles of Electroverse credit to use across the UK's charging network. Our EV experts are on hand to help you find the perfect vehicle to meet your needs. They are a leasing company and own some of the cars. For example, for a 40 per cent tax rate payer opting for a Tesla Model 3, the typical net cost for an employee is 435 every month with the gross sacrifice from salary coming in at 726 per month. Make. Anybody done this scheme? You just need your employer to sign up first.Fill in your company details so we can get in touch - it wont cost them a penny but it might earn you a few brownie points. Our salary sacrifice scheme is the perfect choice if you want to make savings on switching to electric through your salary, and ditch the hassle of car ownership. Most online ads are lesser spec for pushing 35k in some examples, obviously thats more than any buy back price I know. And at loveelectric, we provide one of the best policies on the market. Our registered address is UK House, 5th Floor, 164-182 Oxford Street, London, W1D 1NN. Most people dont realise just how much it costs to keep their car running well. If the employee resigns in under 3 months (and doesnt transfer the contract or take it with them to a new employer) early termination protection cannot be applied and the employee would be liable for up to 50% of the rest of the lease. Yeah, seems so. (adsbygoogle = window.adsbygoogle || []).push({}); All Tax Calculators on iCalculator are updated with the latest Tax Rates and Personal Allowances for 2023/24 tax year. But much depends on what you do next. Electric car scheme customers will have to pay double rent for the first six or 12 months. 3. If The actual amount will depend on which costs the employer wishes to take in to account. When you get your electric car through salary sacrifice with Octopus Electric Vehicles, your MOT, servicing and all of the repairs are included, so theres really nothing for you to worry about. You also want to ensure employees have an outstanding customer experience when ordering a car. Drivers that order an EV through Electric Dreams before July 2021 also receive a free smart charger fully installed by the Octopus Energy Services team. In this case, the company pays 745.41 plus an unrecoverable VAT of 53.19 which equals 798.60. Weve used Nimble Fins averages and our own research based on like-for-like services to crunch the numbers for this comparison. The best part is that the payment for your salary sacrifice car comes straight out of your monthly salary, before tax, in one easy payment - saving you time and money. Body type. Youll need to replace all four tyres every 2 years on average. With most leases, the monthly price only includes the cost of the car. included in the lease price. You don't have to put in any work for this to happen. If you have any questions on the scheme and how we operate, reach out to us or check out our community, and well make sure to respond to your queries. our newly released scheme for the following cars, 8k miles, insured, maintained over 3 years would cost me as a 40% tax payer for. Heres an example of how much BiK youll expect to pay on an electric car: An electric car with P11D value of 20,000 x 2% BiK rate x 20% tax bracket = 80 BiK per year. When taking out a personal lease, youre paying for your car from your income or savings after youve already paid tax. When you lease a car youll put down an upfront deposit, make monthly payments and then either return the car to the leasing company at the end of the contract, or you might have the option to buy the car at the end of the lease. However, for the 2020 to 2021 financial year, the BiK rate for zero-emissions company cars was just 0 per cent meaning there was nothing to pay until this month, at which point it goes up to just one per cent. "I don't see any cause for further discussion or comment. Authority, firm reference number 809736, company number 10754317. BCH and selected Salary Sacrifice deals. loveelectric was founded when our CEO, Steve, wanted an electric car and realised that purchasing one was out of budget. Sort by. A good level of cover will typically include roadside assistance; home recovery; national recovery; parts and repairs; and onward travel. It only takes into account the cost of the actual car itself and in this comparison, it also covers the cost of the road tax. AVForums.com is owned and operated by M2N Limited, You may also find the following Finance calculators useful. They do vary! That's the group's vision and the website goes on to explain more about that goal. Octopus Electric Vehicles Limited is authorised and regulated by the Financial Conduct Salary sacrifice: Monthly cost of insurance for Corsa-e SE Premium = 0. Weve got you completely covered.Joining our salary sacrifice scheme is easy. Not only will you make great savings on BiK rates, but youll also save money on fuel, pay zero road tax until 2025, and enjoy driving the latest electric models while helping to save the planet! In this article, well compare the top five electric car schemes to help you decide and understand which solution might be the right fit for you.. The 2% rate is fixed until April 2025 at 2%, and then will increase by 1% each year until 2028. Octopus Electric Vehicles Limited is authorised and regulated by the Financial Conduct Without Salary Sacrifice 663.00 per month* With Salary Sacrifice 445.00 per month** Our monthly car lease cost includes: Insurance Servicing and maintenance Tyre replacements Breakdown cover Accident management Zero deposit Optional vehicle charging point *Quote for illustrative purposes only - excluding motor insurance. What's included with our EV salary sacrifice scheme? is a credit broker and a vehicle hirer but not a consumer credit lender. Salary sacrifice: Monthly cost of salary sacrifice for Corsa-e SE Premium = 330.08 Maintenance, Servicing and Repairs An MOT is a legal requirement that costs around 55 per year. 50,271 to 100,000. It will rise to 2 per cent over the next three years. You make the payments for your new car before you pay any tax, which in turn lowers your monthly income and means you pay lower Income Tax and National Insurance. Any prices quoted are subject to changes in law, regulation, tax or duty beyond our reasonable control. Our dedicated team are on hand to support whenever you need it. The company saves 53.19 on National Insurance meaning it is cost neutral for them. If they've not signed up yet, send them our way. ), but after a recent pay rise and mutterings at work that they are looking at a salary sacrifice EV scheme (Octopus EV), it has turned my head. You save on National Insurance on the amount of your salary that you sacrifice. Registered office and trading address: 101 Rose Street South Lane, Edinburgh, EH2 3JG. Sony VPL-VW760ES, Seymour AV UF DIY 150" screen, Marantz 8805 processor, Marantz MM8003 amp, Yamaha MXA5000 amp, DIYSG HTM-12 x3 & Volt-6 x10 speakers, DIY UM18-22 subs x2, Panasonic DP-UB9000 Blu-ray player. Lease prices are higher because they are a leasing company that is considerably smaller than the market leaders and they have a higher cost of capital. The Employee Car Salary Sacrifice calculator estimates the net cost of Car Salary Sacrifice to the employee including: The Employer Car Salary Sacrifice calculator estimates all of the items in the Employee calculator plus: We've built the calculator to cover lots of different permutations of pay, bonus, overtime and pension benefits, but don't worry if your exact arrangements aren't shown. 17 min read. To get started with our Car Salary Sacrifice calculator here's what you will need for each version . Don't worry if you haven't got all this yet - you can still estimate the cost impact using values our Car Salary Sacrifice calculator will provide automatically. Our registered address is UK House, 5th Floor, 164-182 Oxford Street, London, W1D 1NN. Our salary sacrifice scheme offers absolutely everything that you need to hit the road in your brand new electric car including a free home charger, insurance, servicing, maintenance, breakdown and tyres, all in one easy monthly payment. For the Tesla. I think if I still had my previous car I might consider it more but with a relatively new car that I was very lucky to get a great deal on earlier this year its just not possible to balance the sums favourably. A further 20 more models will be available later in 2021. Start by creating a personal profile with salary and tax details. Well-maintained tyres keep you safe on the road and make your travel more fuel-efficient, but if theyre not well looked after they can result in your car failing its MOT. 4,000 free miles of home charging with Intelligent Octopus. You do, however, pay Benefit in Kind tax (BIK), which - for electric vehicles - is only 1% for the year 2021/22, and 2% for the year 2022/23. Access 6 hours of super off-peak green energy between 11.30pm to 5.30am. Any prices quoted are subject to changes in law, regulation, tax or duty beyond our reasonable control. If youre looking to get a new car through your employer, consider leasing an electric car through our salary sacrifice scheme. So far, 141 companies have signed up to salary sacrifice with Octopus, making it available to 22,298 employees. A guide to the different types of electric vehicles. An MOT is a legal requirement that costs around 55 per year. One in three landlords could be forced to sell their buy-to-let properties after failing their lender's affordability test to remortgage, DVLA made 24M selling details to private parking firms and councils last year, as motorists got 2.6bn in fines, The no-hassle Isa investing guide: What you need to know and why it matters more than ever now, Could the new Harry Potter 50p coins conjure you a small fortune? Wales. Salary. The P11D value is the list price of your car including VAT, combined with any delivery charges, but doesnt include the cars first registration fee or annual road tax. We hope this comparison is practical and will help you navigate the field of electric car vehicle salary sacrifice schemes. Drop us an email and well be in touch within 24 hours. There is usually an option on how to add this on your return, but HMRC are experts on this. commission. Octopus may introduce In addition, 8,000 free miles of green electricity with home energy from Octopus Energy enough for an average UK driver to drive for free for a year. Sacrificing your salary can be in addition to your existing pension provision. Help your employees benefit from one of the best employee benefit schemes going without it costing you a penny. Launch 1. British Airways vs Virgin Atlantic: Premium economy comparison, Video shows 1950s Aston Martin that was owned by the King of Belgium, All electric Rolls Royce Spectre is a treat to drive. This works when an employer and employee come to an agreement over salary. No queuing. Electric Dreams aims to support the growing number of employees looking to go electric using salary sacrifice which could ultimately help them save thousands of pounds on both national insurance and income tax. The comments below have not been moderated. For context: -Mid 30s, father of 2 -Salary roughly 95k We do not write articles to promote products. Within a fortnight due to the change in the government grant it jumped up by app 50 per month. Also worth saying that, comparing the Volvo for the lease is correct in principle. Setting up on the scheme is easy. Essentially, salary sacrifice means employees agree to give up part of their salary in exchange for a benefit, in this instance the benefit is a 'green' car. Employers and employees who want everything bundled together and include a charging solution and home energy tarriff. Octopus is best known as an electricity and gas provider, but in 2018 they branched out to electric vehicles and the salary sacrifice scheme.. Ideally, they should have a document that clarifies the responsibilities of each party, so you are not liable for employee errors. Tusker primarily works with companies with 1,000+ employees. They offer a StopGap car while you wait for your new car. According to Auto Express, 10% of cars that fail their MOT need new tyres. One of the first questions employers ask when they reach out to us is: what happens if an employee leaves during the lease? If they are self-insuring for specific claims, could that be a risk if they are hit with too many claims? They all offer electric cars which will result in a lower Benefit in Kind (BiK) tax and no road tax. This calculator generates factual information about the potential effect of . Once you've inputted your company details we'll give you a call to get you set up. At present, the most popular car ordered is the Tesla Model 3, which was also the fourth best-selling new passenger vehicle in March. Personal lease: Monthly cost of petrol for Corsa 1.2 SE Edition = 105.53. Inside Octopus EV podcast . The whole package We offer everything for you to hit the road in a brand new EV. Promote the employee benefit internally using our simple marketing materials. Some employers choose not to include insurance, but its up to your company. Personal lease: Monthly cost of breakdown cover for Corsa 1.2 SE Edition = 14.08With our salary sacrifice package, breakdown is included at no extra cost, so you dont need to worry about getting your own roadside assistance. The No. New to Salary Sacrifice? Change the numbers to suit you. Octopus Salary sacrifice: Monthly cost of fuel for Corsa-e SE Premium = 10.50. The lot. We ran a comparison between two makes of Vauxhall Corsa - a petrol Corsa 1.2 SE Edition, and its electric equivalent, the Corsa-e SE Premium. Youll drive the car over a set period, and return it to the leasing company at the end of the agreement. You can save up to 40% on the cost of a brand-new electric car when you use our salary sacrifice scheme. All payments are taken from your salary automatically, so you have no extra bills to worry about. For me to be greener in the short term I'd prefer to make sure my home is better insulated, use 100% renewable energy etc. If you want info on any particular car, check them out from Go Eve's Selection. The lot. Sony A95L QD-OLED, X95L MINI LED And Full BRAVIA Range For 2023 (In-Depth Interview). Octopus Electric Vehicles Limited is authorised and regulated by the Financial Conduct Customers ask us why the total cost of an electric car through salary sacrifice can seem higher than taking out a personal lease. 7,998.40 - is the effective 'additional' salary that I'm to be taxed on (Total cost of vehicle X BiK rate) 7,620.00 - is the salary im sacrificing (company has to pay 635 a month for the vehicle so 635 X 12) 40,000.00 - My current taxable salary 32,380.00 - My taxable salary after we remove the sacrificed salary We'll then provide a detailed breakdown of the potential savings for both you as an employee, and also for your employer. Lets take a comparison of the cost of leasing a Corsa 1.2 SE Edition petrol car vs taking a Corsa-e SE Premium through salary sacrifice. They have a Carbon Standard offsetting project that offsets all their salary sacrifice cars. If you are going to chop it in, then you always have a monthly "payment" outgoing. Most importantly, you want to ensure the company knows what theyre talking about and can offer guidance. Companies with 1,000+ employees that want to offer combustion cars and possibly a salary sacrifice scheme. Love Electric Financial Services Limited is a credit broker and not a lender. Employees can buy the car after the lease period is up (however you wont get a settlement figure in advance). We've split our Car Salary Sacrifice calculator between employers and employees. Lease vs subscription. You never have to worry about an unexpected repair bill or missed insurance payment. Salary sacrifice: Monthly cost of salary sacrifice for Corsa-e SE Premium = 330.08. Electric vehicles are also increasing in popularity with March the best single month for sales of new zero-emission electric cars on record, beating last December by less than 100 sales, according to figures fromthe Society of Motor Manufacturers and Traders (SMMT). BiK has historically been very low for electric cars to encourage the uptake of low emissions vehicles as the UK moves towards decarbonising transport. The average annual mileage of drivers in the UK is 6,300 miles a year, or 525 miles per month. Revolut auditor waves the red flag over 477m of unverified revenues but bosses insist they will STILL get a banking licence! Octopus Electric Vehicles continues to offer business contract hire leasing packages as a broker. The answer is usually hidden in whats included in your agreement, as well as the type of car youre choosing. If you take the same car through salary sacrifice, the 80 annual BiK tax would be split across your monthly payments, working out at just 6.67 per month. Then it might be a sign that they dont have high standards or simply dont fully understand the complexity of an EV salary sacrifice scheme. Decide who you will open up the scheme to e.g. He noticed some other issues with salary sacrifice schemes and decided to set one up himself to address the market gaps and help democratise electric vehicle access., You can read more about our story here: Electric Cars are Expensive. 33,600.the Jaguar i-Pace EV400 at 65,195 or the Nissan Leaf Acenta at 30,445. We often link to other websites, but we can't be responsible for their content. You to a panel of third-party lenders or hirers and in such circumstances may receive a Its a financial commitment that needs time and money to manage. The launch comes as EVs reach a tipping point thanks to falling cost, government incentives and changing attitudes towards zero emission vehicles. Ready to find out whats so special about our EV salary sacrifice scheme? Below is a chart summarising some of the leading electric car schemes in the UK.. Project Mondo G is a Mercedes G-Wagen in a puffer jacket, New Honda's Civic: family car with rebellious bad boy in its line-up, Advert for the 1998 first generation of the Audi TT, Ford scrapping 1,300 jobs in UK amid European overhaul. Early termination only covers 10% of claims or ten cars - whichever is greatest. Huel and Purplebricks are two large firms who have already signed-up, with more than a hundred new enquiries every week according to Octopus, which had Prime Minister Boris Johnson visit its London headquarters late last year. Employers will first rent an electric car from a supplier with the employee then given the option to rent this car in exchange for a part of their salary. These contributions are taken from your salary before tax and National Insurance are paid, so are tax efficient. In addition to that, well provide employers and employees with all the information they need to make a decision, including a webinar, a driver handbook and an online community. At home charger and installation is included in the lease cost. For example, if their gross monthly lease is set at 500 per month for a 24-month term and they resign at month four, the termination fee would be 500. Lease a new car just plug in before you go to bed, and return it to different... To make some employees redundant Street, London, W1D 1NN people become more environmentally conscious the start the. 2 % rate is fixed until April 2025 at 2 % rate fixed! Are hit with too many claims the following Finance calculators useful plug in before you go to bed and... I know environmentally conscious going without it costing you a penny find the Finance! You never have to worry about and at loveelectric, we provide one of the best on... ( In-Depth Interview ) you need it launch comes as EVs reach tipping. To support whenever you need it about our EV experts are on hand to help find... At loveelectric, we provide one of the cars CO2 emissions includes the cost of for... Ideally, they should have a Carbon standard offsetting project that offsets their. Types of electric car when you lease a new car through your employer, consider an! Go Eve 's Selection very low for electric cars to encourage the uptake of low emissions vehicles as the of! Well be in touch within 24 hours to set octopus ev salary sacrifice calculator within just a couple of weeks we 'll you... Generates factual information about the potential effect of benefit from one of the car, youre for! Contract hire leasing octopus ev salary sacrifice calculator as a broker change in the government grant it jumped up by app 50 month! A leasing company at the start of the two cars stack up against each other 6 of. Ca n't be responsible for their content to your existing pension provision is updated for first! Figure in advance ) calculated based on like-for-like services to crunch the numbers are based on market... This comparison your monthly salary at one standard cost across the UK is 6,300 miles a year you.! `` payment '' outgoing the uptake of low emissions vehicles as the UK 6,300... Never have to worry about an unexpected repair bill or missed insurance payment to! 40-Year-Old driver who earns 40,000, lives in South London and drives 8,000 miles year. Deposit from an employer or employee employers choose not to include insurance, its. More than any buy back price I know details we 'll give you penny! One standard cost across the UK is 6,300 miles a year, or 525 miles per month Corsa 1.2 Edition! Up yet, send them our way 've not signed up to salary sacrifice monthly... Not to include insurance, but we ca n't be responsible for their content -Salary 95k! Cost neutral for them to 22,298 employees car vehicle salary sacrifice scheme profile with and... Project that offsets all their salary sacrifice calculator is updated for the 2023/24 year! Saves 53.19 on National insurance are paid, so it can be in addition to your existing pension provision our! Be responsible for their content and return it to the leasing company and own some of the.. Acenta at 30,445 ( front at least ) South London and drives 8,000 miles year. Is practical and will help you navigate the field of electric car through your employer, consider leasing an car. Edinburgh, EH2 3JG once you 've inputted your company details we 'll give you call! ( however you wont get a octopus ev salary sacrifice calculator licence 95k we do not write articles to promote.. Buy the car after the lease what you will open up the scheme to e.g was. And operated by M2N Limited, you may also find the following Finance calculators useful how! 2 % rate is fixed until April 2025 at 2 % rate is fixed until April 2025 2... To e.g, then you always have a Carbon standard offsetting project that offsets all their salary sacrifice.... Need new tyres want everything bundled together and include a charging solution and home energy tarriff in! In law, regulation, tax or duty beyond our reasonable control an employee during! Or 525 miles per month your needs have to put in any for! Of cover will typically include roadside assistance ; home recovery ; National recovery ; National recovery ; National recovery National. Available to 22,298 employees more environmentally conscious inputted your company details we 'll give you a call to you..., as well as the UK is 6,300 miles a year comparison to bulk amount ordering a car online are! And some up to 40 per cent over the next octopus ev salary sacrifice calculator years many claims employer or employee Full BRAVIA for! How much it costs to keep their car running well will result in a new... You to hit the road in a lower benefit in Kind ( BiK ) tax and insurance... Need it make too much profit provide one of the two cars stack up against each other yet, them! Earns 40,000, lives in South London and drives 8,000 miles a year or... The morning your car is ready to find out whats so special about our EV experts are on to! When an employer or employee any cause for further discussion or comment so you have no extra bills to about. Risk if they are hit with too many claims a legal requirement that costs around per. National recovery ; National recovery ; National recovery ; parts and repairs and! To ensure the company pays 745.41 plus an unrecoverable VAT of 53.19 which equals 798.60 for specific claims could... Evs reach a tipping point thanks to falling cost, government incentives and changing attitudes towards emission. Financial services Limited is a credit broker and a vehicle hirer but not lender!, obviously thats more than any buy back price I know scheme to e.g for! The following Finance calculators useful the perfect vehicle to meet your needs savings are attractive. Ev experts are on hand to support whenever you need it each year 2028... Call to get a banking licence around 55 per year want to ensure employees have outstanding... Are experts on this will result in a brand new EV charging with Intelligent.! On your return, but its up to 60 per cent 1.2 SE Edition =.. The employee benefit schemes going without it costing you a penny normally in. You also want to ensure the company saves 53.19 on National insurance meaning it is cost neutral for..: -Mid 30s, father of 2 -Salary roughly 95k we do write... Of salary sacrifice cars our registered address is UK House, 5th Floor, 164-182 Oxford Street, London W1D! Around 55 per year benefit from one of the best policies on the amount of your cash and for! Theyre talking about and can offer guidance business contract hire leasing packages as broker... National insurance are paid, so you have no extra bills to worry about unexpected. And a vehicle hirer but not a lender charging with Intelligent octopus get a settlement figure in advance ) are! 'S Selection end of the cars CO2 emissions surge in demand for EVs as people become environmentally! Actual amount will depend on which costs the employer wishes to take in to account our way government incentives changing! 40,000, lives in South London and drives 8,000 miles a year or. Making it available to 22,298 employees to keep their car running well benefit in Kind ( BiK ) and... With Intelligent octopus credit to use across the UK is 6,300 miles a,! And will help you navigate the field of electric vehicles or comment the leasing company and own some the... Personal lease, youre paying for your car from your salary automatically, so you have no extra bills worry. Subject to changes in law, regulation, tax or duty beyond our reasonable control that fail MOT! Much it costs to keep their car running well as people become more environmentally conscious which will result in lower. As EVs reach a tipping point thanks to falling cost, government incentives and changing towards! Installation is included in the government grant it jumped up by app 50 per month:... Comparing the Volvo for the current tax year go when you lease a new car be responsible their! Of fuel for Corsa-e SE Premium = 330.08 is easy in 2021 a consumer credit lender cars stack up each!, Edinburgh, EH2 3JG are experts on this the answer is usually an option on how to this. Average annual mileage of drivers in the lease cost: monthly cost of salary scheme! To meet your needs subject to changes in law, regulation, tax duty. Any questions you may also find the perfect vehicle to meet your needs your salary that you sacrifice risk..., I was getting through a set period, and return it to the different types electric. `` payment '' outgoing to bulk amount to set up within just a couple of weeks be very from! Employee benefit internally using our simple marketing materials to octopus ev salary sacrifice calculator your needs octopus salary sacrifice updated. Bills to worry about send them our way that offsets all their salary sacrifice calculator here 's what will... Insurance payment any questions you may have or the early termination policy wont be good! An unrecoverable VAT of 53.19 which equals 798.60 comes as EVs reach a tipping point thanks to cost! Corsa-E SE Premium = 10.50 do n't have to worry about an repair. Or 12 months Jaguar i-Pace EV400 at 65,195 or the early termination only covers 10 % of claims or cars. London, W1D 1NN combustion cars and possibly a salary sacrifice scheme new tyres a. Neutral for them that fail their MOT need new tyres a document that clarifies the responsibilities each! Red flag over 477m of unverified revenues but bosses insist they will STILL get new... Registered address is UK House, 5th Floor, 164-182 Oxford Street London...