How does electric car salary sacrifice work for employers?
Our salary sacrifice scheme is completely cost-neutral benefit to offer to your team
- Fantastic Staff Benefit!
- Cost Neutral to your Company!
- HMRC Compliant
- Staff Save Between 30 to 60%
- Helps towards Net-Zero goals!
Leasing Vs. Salary Sacrifice
after tax saving*
Electric Car Salary
Sacrifice Schemes Explained
Cocoon Vehicles offers a different approach to electric car leasing through a salary sacrifice scheme. Unlike traditional contract hire and leasing, a salary sacrifice scheme allows employees access to an electric vehicle (or plug-in hybrid) for a fraction of traditional leases or purchase costs.
By signing up your business, your employees can choose from a wide range of vehicles on our salary sacrifice schemes. They make monthly fixed payments directly from their salary before Income Tax and National Insurance is applied.
Your employees can make a saving of between 30-60% depending on the car chosen, their salary, marginal rates and Benefit-in-Kind tax rate. The higher the tax bracket, the higher the monthly savings can be.
Setting up your business for a Salary Sacrifice Scheme with Cocoon is super easy to do and it is completely cost-neutral to you, which means you can sign-up for free with no financial risk for the business.
How to get set up with Salary Sacrifice
Staff Benefit Ideas
Its a fantastic idea as a business to offer your employees an electric vehicle via our Salary Sacrifice Scheme. It helps slash the costs of an electric vehicle with savings between 30 to 60%, and thanks to our flexible and short-term solutions, employees can change their car on a more regular basis and not be tied into 4 year contracts.
As an employer, you can sign your business up to our salary sacrifice scheme at no cost. Your employees pay for the vehicle through their gross salary, saving income tax, National Insurance and Benefit-in-Kind.
We understand that 3 and 4 year contracts are long, besides, who wants to commit these days. This is why we offer a range of flexible solutions utilising our car subscription fleet to ensure that you’re completely covered as a business.
Signing up to a Salary Sacrifice scheme with Cocoon is super simple, on top of that we do all of the admin for you and the process is HRMC-compliant. To get started just fill in a quick form and our team will touchbase to get the wheels in motion, once in place you launch the scheme and we’ll even maanage the onboarding process.
Your employees will get their own personalised dashboard so that can see all of the vehicles available to them.
Manufacturers On Offer
Why choose us for your Salary Sacrifice Scheme?
Save up to 60%
We have a range of models to suit most tastes and budgets
Premium Cars Available
We have some of the best brands available in both Electric and Plug-in Hybrid
Full Inclusive Package
Insurance, Maintenance, Servicing, Road Tax, Breakdown Assistance Included
Cost Neutral for Employer
It's completely free for companies to sign up to a salary sacrifice scheme
All-inclusive offering
Everything you need is bundled up into one nice package with us
Net Zero
By offering Electric Vehicles on Salary Sacrifice, its a step forward towards Net Zero
