Similar to the popular cycle-to-work scheme, employers can give their staff a highly valuable benefit that is also good If this all sounds like you then we'd love to hear from you. Published Nov 9, 2021. Octopus launches new leasing company for EV salary sacrifice Octopus launches salary sacrifice scheme ... - EV Fleet World For example, for a 40 per cent tax rate payer opting for a Tesla Model 3, the typical net cost for an employee is. Adding to its portfolio, the energy provider Octopus has launched a new leasing service - Electric Dreams - offering 100% electric car salary sacrifice schemes, to save employees thousands as they switch to clean green driving. New Octopus EV salary sacrifice leasing company ... Just so people reading this have some context, for me to generate an Octopus quote similar to yours (of £442 net a month for 4 years) on the spec of Polestar 2 you've outlined below I had to input an annual taxable salary in excess of £100,000. A salary sacrifice car is a company car. Fantastic experience with Octopus. Octopus Electric Vehicles is launching a new leasing service - Electric Dreams - offering electric salary sacrifice schemes. Similar to the popular cycle-to-work scheme, employers can give their staff a highly valuable benefit that is also good […] Placing customer service first, the company helps businesses set up the scheme and offer it to their staff. Octopus launches new electric car 'salary sacrifice' scheme Twenty more cars will be available later in 2021. Your Co-op Energy launches EV salary sacrifice scheme ... Octopus Electric Vehicles today announces the launch of a new leasing service - Electric Dreams - offering 100% electric salary sacrifice schemes, to save employees thousands as they switch to clean green driving. Octopus EV - Live Launch - Spring into Salary Sacrifice. THE leasing broker arm of energy supplier Octopus Energy has launched a salary sacrifice scheme. Salary sacrifice leasing - Page 15 - EV and Alternative ... Electric-car leasing provider Octopus Electric Vehicles has launched a new salary-sacrifice scheme called Electric Dreams, to enable businesses of all sizes to offer electric-car leasing to their employees.. When I run an estimate on octopus EV salary sacrifice simulator, it seems the price was inflated and in the end the net to pay . Salary Sacrifice helps every part of your business. Latest / Octopus salary sacrifice- Model Y available in February, White external, black interior - £377 salary sacrifice. Get in touch. Cycle to Work Scheme - to help lower your carbon footprint whilst good for your healthWe also have access to the EV Salary Sacrifice Scheme - if you want to get an EV! Latest / Octopus salary sacrifice- Model Y available in February, White external, black interior - £377 salary sacrifice. Posted by 4 months ago. There are some salary sacrifice leasing specialists like The Electric Car Scheme that can offer discounts of between 30%-60% on all EVs. 15 companies are already live on the scheme, including Huel and Purplebricks, making it . Wow, that's big news. Playing the colours of outside and inside I can also get in Feb Red . You pay for the car using your gross pay, and your income tax is based on your remaining salary and the BIK value. 0 comments. Octopus said many drivers are saving 30 to 40 per cent and some up to 60 per cent. According to Octopus, drivers currently signed up to its Electric Dreams scheme save an average of £14,445 over three years by sacrificing some pre-tax salary in return for a brand new EV. Does anyone else partake in a workplace salary sacrifice electric vehicle lease scheme? Octopus Electric Vehicles' new salary sacrifice scheme gives employees access to every EV on the market today with a range of over 100 miles -of which there are over thirty today (up from five in 2017). We've teamed up with Octopus Energy to offer the world's first smart home Electric Vehicle charging cable at a £199 discounted rate (usually £399.) I am delighted to announce that Full Power Utilities have signed and agreement with Octopus EV to provide a salary sacrifice scheme to our employees. Salary sacrifice is a financial solution offered by an employer to employees through a leasing company. It is reporting huge interest in its own EV salary sacrifice scheme, with more than 100 businesses having . Salary Sacrifice Schemes (UK) Question With BiK tax 0% on EVs from April I was wondering if anyone was using or considering using salary sacrifice schemes such as the Go Green Car Scheme from Octopus EV? Which is why they're encouraging businesses and their employees to switch to an EV by offering a tax-efficient way to pay for your lease - AKA Salary Sacrifice. After all, for about two-thirds of the population, charging on the driveway will be people's no.1 refuelling spot when they switch to an EV. I've always bought nearly new cars and run them a long time (as is the FIRE way, Skoda Octavia FTW! With exceptionally low company car tax rates, Octopus EV has specialised in salary sacrifice schemes which makes the cost of driving electric cheaper than the petrol or diesel equivalent. Adding to its portfolio, the energy provider Octopus has launched a new leasing service - Electric Dreams - offering 100% electric car salary sacrifice schemes, to save employees thousands as they switch to clean green driving. Octopus launches 'Electric Dreams' - An EV leasing company unlocking salary sacrifice for businesses Adding to its portfolio, the energy provider Octopus has launched a new leasing service - Electric Dreams - offering 100% electric car salary sacrifice schemes, to save employees thousands as they switch to clean green driving. Similar to the popular cycle-to-work scheme, employers can give their staff a highly valuable benefit that is also good for the planet. Playing the colours of outside and inside I can also get in Feb Red . As a salary sacrifice is a benefit, the employee must pay tax. 100% Upvoted. Octopus Electric Vehicles says Electric Dreams is a zero-cost, risk free perk for employers to offer their staff, and requires about 15 minutes of administration per month for every 10 employees who sign up. Many leasing companies offer turnkey solutions that can be implemented within 4 . Octopus Electric Vehicles has entered the salary sacrifice arena as it looks to help employees make the most of new Benefit-in-Kind ratings. by James Morris. Pages. The product operates on similar principles to the government's cycle-to-work scheme: employees pay a fixed amount out of their gross pre-tax salary each month. Our electric vehicles salary sacrifice scheme is a great employee benefit to offer your staff members, giving them access to a brand new electric car and making savings by paying for it through their gross salary. How is business mileage calculated when doing a salary sacrifice? Octopus launches new electric car 'salary sacrifice' scheme. I'm assuming from your post you're indicating that the differnece between the Salary Sacrifice deals that you're able to get through Octopus EV and a private PCH deal is c. £200 (in favour . Benefit in Kind (BiK) is a benefit which employees can receive through work, yet are not included in their salary, this includes things like . Octopus Electric Vehicles | 21,888 followers on LinkedIn. I got a quote from Octopus EV today on a 3 year, 15,000 miles deal . #20. Tom, Rhys and all of the other team members have been absolutely brilliant. Your company rents the car from a supplier, such as LeasePlan, and you rent it from your employer. . Salary sacrifice - making it cheaper to drive electric than petrol Using analysis we pulled together; The Sunday Times reported that, through Electric Dreams, the Salary Sacrifice Scheme from Octopus Electric Vehicles*, a brand new electric car is cheaper than it's petrol equivalent. We have seen a seven-fold jump in salary sacrifice enquiries in the last year. ), 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. Electric Dreams - which is similar to the cycle-to-work scheme - allows staff to pay for a new EV from their gross salary, saving thousands of pounds on both national insurance and income tax. The benefitRead More Reading Time: 3 mins read Published date: October 2021. hide. Octopus EV - Live Launch - Spring into Salary Sacrifice. 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. . Our registered address is 33 Holborn, London EC1N 2HT. Jul 22, 2019. The scheme . Octopus Energy's existing EV solutions portfolio includes EV leasing, smart tariffs for charging overnight, EV roaming through its Electric Juice Network and Electric Dreams - a salary sacrifice scheme for electric cars. Octopus Electric Vehicles has launched a new leasing company offering 100% electric salary sacrifice schemes. Our registered address is 33 Holborn, London EC1N 2HT. It's called the Go Green Car Scheme.. Octopus Electric Vehicles says companies can help employees save an average 40% on driving new and environmentally friendly cars.. Claim Octopus Discount Offer. They are knowledgeable, friendly and swift at responding to any queries my team had. Playing the colours of outside and inside I can also get in Feb Red . So far Octopus EV has attracted 15 firms to Electric Dreams, including companies such as Huel and Purplebricks. Octopus Electric Vehicles today announces the launch of a new leasing service - Electric Dreams - offering 100% electric salary sacrifice schemes, to save employees thousands as they switch to clean green driving. Twenty more cars will be available later in 2021. Only £199 For Octopus Energy Customers. | We are the electric car specialists. How big are the savings? With a salary sacrifice scheme, you can lease a car with no initial, upfront costs on monthly payments and no further obligations at the end of the leasing term. Already in the UK, there are thought to be up over 300,000 EV chargers installed at people's homes - more than 10 times the number of publicly available devices. Dubbed Electric Dreams, the electric vehicle (EV) leasing company is claiming an average of £14,445 over three years is being saved by drivers already signed up. Octopus Electric Vehicles' new salary sacrifice scheme gives employees access to every EV on the market today with a range of over 100 miles -of which there are over thirty today (up from five in 2017). Dubbed The Go Green Car Scheme, the new scheme has been set up to coincide with the introduction of the BiK tax changes from today (6 April 2020), which bring the EV tax rate down from 16% to 0%. Run in partnership with Octopus Electric Vehicles, the scheme enables employees to pay EVs using part of their gross salary, making savings on income tax and National Insurance. Helena Marson. THE EV specialist broker, Octopus EV, says it has seen a boom in salary sacrifice since the April changes to benefit in kind. Read more on our website: https://www.whichev.netVideo timestamps:00:00:09 Intro00:00:33 What is Octopus Electric Vehicles?00:01:23 Why EVs?00:04:49 Octopus . ** The launch of the scheme coincides with the change in benefit in kind rates for electric vehicles. There are over 30 cars . Your Co-op Energy has launched a new electric vehicle (EV) salary sacrifice scheme in partnership with Octopus Electric Vehicles. Drivers already signed up are saving an average of £14,445 over three years, by sacrificing some pre-tax salary in return for a brand new electric car. My question is, does anyone have any real world numbers for a high rate tax payer, leasing either a long range Tesla 3, or a polestar 2. Subscribe. At Octopus, we're looking for genuinely decent people who are honest and empathetic. Of course EV's look very attractive with the low BIK. Similar to the popular cycle-to-work scheme, employers can give their staff a highly valuable benefit that is also good for the planet. Jul 22, 2019. Octopus is a credit broker and a vehicle hirer but not a consumer credit lender. As the employee is the one 'paying' for the car and costs I would assume that the employee should receive the normal allowance (45p per mile for first 10k miles) rather than just fuel allowance (4p per mile). The Salary Sacrifice example, which is from OctopusEV's Electric Dreams scheme, also includes a free home charger with installation 1, and 8,000 miles of electricity for Octopus Energy customers 2 or 5,000 miles on the Octopus Electric Juice network 3. 15 companies are already live on the scheme, including Huel and Purplebricks, making it . #20. Latest / Octopus salary sacrifice- Model Y available in February, White external, black interior - £377 salary sacrifice. Salary Sacrifice is a term Octopus Electric Vehicles are hearing more and more frequently in the electric vehicle space, as the Benefit in Kind rate changed in April 2020. DF Capital launches EV salary sacrifice scheme. Save your employees thousands a . She says Octopus EV is seeing lots of interest from businesses about setting up salary sacrifice schemes and often this stems from employees championing electric cars, with executives regularly . The new business will see Octopus directly fund salary sacrifice schemes, accelerating the firm's existing work as a broker in salary sacrifice; its The Go Green Car Scheme launched a year ago to coincide with the introduction of the 0% Benefit-in-Kind rate for fully electric cars.Since then, Octopus Electric Vehicles has seen a seven-fold jump in salary sacrifice enquiries. Add to that the "company car tax" position with EVs and you have a real, credible way of getting a new car. That's why we've introduced our electric vehicle salary sacrifice scheme, in partnership with Octopus Electric Vehicles, which will open up the opportunity for eco-conscious businesses to allow their employees to lease an EV in a far more affordable way.". Chief People Officer at Purplebricks. share. Octopus Electric Vehicles Limited is authorised and regulated by the Financial Conduct Authority, firm reference number 809736, company number 10754317. . you can then get a free octopus cuddly toy with the link below: Free Cuddly Octopus . The next video out will be to discuss the salary sacrifice scheme (and how you can potentially save £200 a month leasing a tesla model 3). Your Co-op Energy, part of The Midcounties Co-operative, has launched a new electric vehicle salary sacrifice scheme in partnership with Octopus Electric Vehicles to help businesses drive the change towards reducing their carbon footprint and making electric vehicles more accessible and affordable for employees. My workplace is signing up to it but I thought it might be worthwhile seeing of anyone else has signed up for opinions/advantages/disadvantages. Video Interview: CEO Fiona Howarth on Octopus EV salary sacrifice scheme How salary sacrifice schemes can make going electric cheaper than petrol or diesel. Octopus Electric Vehicles has launched an EV leasing service which offers a salary sacrifice scheme to businesses of all sizes. Octopus Electric Vehicles has today announced the launch of a new leasing service offering full electric salary sacrifice schemes to employees. Octopus Electric Vehicles today announces the launch of a new leasing service - Electric Dreams - offering 100% electric salary sacrifice schemes, to save employees thousands as they switch to clean green driving. We offer the whole package from expert advice, to great deals on the best cars, to . The benefit is made possible due to low Benefit in Kind (BiK) tax rates on electric cars, which is just 1% for tax . Drivers already signed up are saving an average of £14,445 over three years, by sacrificing some pre-tax salary in return for a brand new electric car. Octopus launches 'salary sacrifice' scheme for employees who want to buy EV The new leasing service is similar to 'cycle-to-work' scheme, and allows staff to pay for a new EV from their salary Its a salary sacrifice scheme (a bit like cycle to work) in which your lease an electric car with payments deducted from gross salary ( Salary Sacrifice | Octopus Electric Vehicles ). The next video I will be comparing buying new (cash or PCP) versus leasing. to access these savings, octopus electric vehicles have created a free-to-implement 100% electric salary sacrifice scheme, called electric dreams, enabling employers to offer their employees a cost-effective and planet friendly benefit to make the amazing switch to electric (essentially accessing a lease through your employer and paying for the … Octopus EV's salary sacrifice scheme makes driving electric easy and affordable, helping our staff lead more sustainable lifestyles. Octopus launches 'salary sacrifice' scheme for employees who want to buy EV The new leasing service is similar to 'cycle-to-work' scheme, and allows staff to pay for a new EV from their salary But what does that really mean? + Follow. Octopus Electric Vehicles Limited is authorised and regulated by the Financial Conduct Authority, firm reference number 809736, company number 10754317. Log in or sign up to leave a comment. Octopus Electric Vehicles today announces the launch of a new leasing service - Electric Dreams - offering 100% electric salary sacrifice schemes, to save employees thousands as they switch to clean green driving. Similar to the popular cycle-to-work scheme, employers can give their staff a highly valuable benefit that is also good for the planet. With EVs currently (April 2021-March 2022) having a 1% BiK rate, the cost to the employee is negligible, even for more expensive cars, like the ever-popular Tesla Model 3 . Octopus said many drivers are saving 30 to 40 per cent and some up to 60 per cent. Fiona Howarth, CEO of Octopus Electric Vehicles, said: "We have seen a seven-fold jump in salary sacrifice enquiries in the last year. EV leasing, expert advice, great deals on the best cars, to the best charging solutions for you - the whole package. Businesses and employees across the UK are searching for ways to do their bit for the environment. Natalia Peralta Silverstone, Head of Propositions at Octopus Electric Vehicles . Essentially, the same as what you'd pay anyway, but with a new, clean car for a cheaper cost. The leasing broker says it has seen the number of drivers opting to lease an electric vehicle almost double since the tax change compared with the six months prior to April. DF Capital has introduced a salary sacrifice scheme, augmenting its benefits and enabling its staff to switch to electric cars at lower cost. The new salary sacrifice offer aims to help businesses drive the . save. The systems, forms and partners have been great. Limited risks to your company Members of: Any prices quoted are subject to changes in law, regulation, tax or duty beyond our reasonable control. Hi, my employer is going to start a salary sacrifice scheme to allow us to lease cars. Octopus is a credit broker and a vehicle hirer but not a consumer credit lender. youtu.be/dW1mfR. In addition, when renting an EV through a salary sacrifice scheme, employees will have to pay company car tax (benefit-in-kind or BIK) as an additional percentage charge each month straight out of their wages . Octopus Electric Vehicles is launching a new leasing service - Electric Dreams - offering electric salary sacrifice schemes. Leasing EVs through an effortless salary sacrifice package that empowers businesses and employees. Some of the UK's top businesses have chosen Octopus Electric Vehicles salary sacrifice scheme for their employees. Massive interest in EV salary sacrifice scheme, says Octopus Electric Vehicles 07/10/2020. report. I initialised our companies EV salary sacrifice scheme and yesterday took delivery of my first vehicle. 4th August 2021 - Updated on 30th September 2021. in Features, Interviews, Podcast. The benefit is made possible due to low Benefit in Kind (BiK) tax rates on electric cars, which is just 1% for tax . Run in partnership with Octopus Electric Vehicles, the scheme enables employees to pay EVs using part of their gross salary, making savings on income tax . 2. The Government want you to drive electric as much as we do. DF Capital has introduced a salary sacrifice scheme, augmenting its benefits and enabling its staff to switch to electric cars at lower cost. Octopus Electric Vehicles has revealed a new 100 per cent electric car leasing service for businesses looking to become more . I already sacrifice a large portion of my salary into a top-up pension scheme, it would just mean instead of 25% sacrifice going into this fund, it would be more like 12.5%, with 12.5% going to the car scheme, ok, I may have to work an extra year or two (always planned to retire at 57) but hey ho, that life. Close. Similar to the popular cycle-to-work scheme, employers can give their staff a highly valuable benefit that is also good for the planet. Reduce your business's NIC payments. 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