Electric car salary sacrifice for businesses

We want to support all businesses, big and small, in empowering their staff to make the switch to electric. However, the scheme won’t be right for every company. A good rule of thumb is that businesses in our scheme should have been trading for at least 2 years and be profitable.

Once you’ve read the documentation and you’re happy to join, we’ll send you a simple contract to sign up to our free service. We’ll give you the marketing materials, plus a unique link to our live quotation site, from which new electric vehicles can be ordered. On top of that, loveelectric will give you ongoing support with payroll and tax arrangements. What’s not to love?

We provide early termination protection as standard. This means that if your employee needs to terminate the lease early, several options are available to you. The first option would be to transfer the contract to another employee. The second option would be for us to transfer the lease to the new employer (if applicable). If neither of these options are feasible, don’t worry, we will protect the employer against any early termination charges levied by the leasing company. All your employee will need to pay is an administration charge of one month’s rental. Ts and Cs apply.

We have built an end-to-end solution that makes joining, launching and managing the scheme very easy. The first step is talking to our dedicated support team to ensure the scheme is right for you (this may involve a credit check before signing a master hire agreement).  When you launch, loveelectric will support you with marketing materials to get staff buy in. We then give your employees access to a dedicated portal where they can get personalised EV quotes (where all the salary sacrifice calculations are done for them). We manage the end-to-end order process (all paperwork is done digitally) and also provide you with support to amend employee contracts and payroll.

If you are primarily remunerated via salary, then salary sacrifice is usually the better option for tax purposes. Salary sacrifice should be viewed as an employee benefit, and it is ideally suited to organisations who want to retain talent. Company owners or directors who are not primarily remunerated via a salary, may prefer a ‘business contract hire’ option. Owners can deduct the full cost of EV rental from profits, and can recover 50% of VAT on the rental when it’s for private use, or 100% when it’s for business use only.

As an independent broker, we search for the best prices deals from a range of leading leasing companies. We believe wholeheartedly in price transparency and publish our fee structure. The prices you see on our site are the price you’ll get - inclusive of servicing, maintenance, early termination protection service and the loveelectric fee - keeping it clean and simple.

It’s simple. Click here for our information pack then we’ll follow up to get you up and running.