Arbury
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Supercharge your employee perks with the Octopus Electric Vehicles salary sacrifice scheme at Arbury

We’re thrilled to announce that Arbury Leasing have teamed up with Octopus Electric Vehicles to give our business customers access to their salary sacrifice scheme. Here’s everything you need to know about this brilliant scheme.

Supercharge your employee perks with the Octopus Electric Vehicles salary sacrifice scheme at Arbury

Here at #TeamArbury, we’re proud to champion any schemes that make electric driving more accessible. Our official partnership with Octopus Electric Vehicles helps businesses move towards a cleaner, fairer future, while helping your employees get fantastic savings on brand-new electric vehicles through salary sacrifice – it’s a win, win!

It costs you nothing to set up and is easy to run – plus, it gives you and your team the chance to save up to 40% on the monthly cost of driving electric. It also helps position you as a forward-thinking employer committed to both employee satisfaction and environmental stewardship.

How does it work?

Salary sacrifice is an employee benefits scheme that allows your employees to pay for an electric car (EV) out of their salary – a bit like the cycle to work scheme but with four wheels instead of two. Your team pays for a brand-new EV from their gross monthly pay, helping them save on National Insurance and Income Tax. As a business, you can then recover some of the cost through the employee’s gross pay.

In doing so, you’ll enhance your corporate social responsibility and employee benefit package, helping you foster a positive corporate culture and attract and retain top talent.

You can also benefit from a more environmentally conscious workforce. Your employees not only contribute to a greener environment, but they’ll also enjoy financial advantages such as tax savings and lower running costs associated with electric vehicles.

Here’s an example to put the potential savings into context:

Three benefits of salary sacrifice

  1. Supercharge your perks package: 75% of employees say that they’re more likely to stay at their work because of their benefits package.

  2. Boost your net-zero mission: On average, a business saves 8.2 tonnes of CO2 per year with EV salary sacrifice.

  3. Zap your National Insurance. Your business saves on National Insurance, which many opt to put back into the scheme.

 

Additional benefits with Octopus

  • Octopus Electric Vehicles offer everything your employees need to get going. The car, charger, energy, insurance (subject to eligibility), servicing, maintenance, breakdown and tyres.

  • Your free home charger comes with standard installation, plus 4,000 miles of free home charging. No off-street parking? No problem. You can get 4,000 free miles of credit on Octopus Electroverse (check out the full T&Cs for these charging offers here).

  • There’s minimal risk with the built-in early-termination protection for unforeseen circumstances.

What about BiK?

Employees will pay a small amount of Benefit in Kind (BiK) tax, which is currently fixed at 2% until April 2025. After this, it’ll increase just 1% per year until 2028. This means it’ll only increase to 3% in April 2025, then to 4% in 2026 and then to 5% in 2027, staying there until 2028.

The BiK rate is set by the government and could increase after 2028, which would increase the amount employees pay for their company car. But for now, this is partly what makes salary sacrifice the cheapest way to join the electric revolution!

 

Watch this handy summary video for more information:

Contact us today

The Octopus Electric Vehicles salary sacrifice scheme will reflect your commitment to a sustainable future while offering tangible benefits to your valued workforce.

Want to find out more? Get in touch with your local Arbury Leasing team today or enquire here.