Electric Car Subscriptions for Business
Businesses are going green and electric cars are one of the easiest way to do it!
A business subscription offers all the usual benefits of our electric car subscriptions to your staff, with some pretty hefty tax benefits thrown in for you too.
Electric Car Subscription Benefits for Employers:
- Increase your green credentials by helping your staff go electric
- Zero hassle with our fully managed service
- Keep up with your flexible workforce – just hand it back when the employee no longer needs it
Benefits for Employees:
- Save on your subscription cost through tax benefits
- All-inclusive and flexible electric car ownership
- The easiest way to try an electric car
How it works
As a company, you subscribe to one or a number of our electric cars on a flexible subscription contract.
You can then offer them as benefits to your staff, either as a company car or through a salary sacrifice scheme.
You can also use a car yourself!
How it compares
Sounds great, right?
But business car leasing is a complicated world and can be confusing for the uninitiated.
To make things simpler, we have compared a business subscription on elmo to a traditional business lease on a Renault CLIO (as close as we could get to a petrol equivalent of the ZOE).
As you can see, an elmo subscription for business offers:
- More flexibility with contracts from as little as one month
- Better affordability when all costs are considered
- A seamless & simple package with everything you need for your vehicle covered in a single payment
All while allowing your business to go green with an electric car!
On that alone, we think a business subscription is a no brainer. And this is before we even consider the fantastic tax benefits…
How much can you save?
There are two ways to save using by subscribing to electric cars for your business: a Company Car Scheme and Salary Sacrifice.
Below we compare one of our Renault ZOEs with a Renault CLIO to show the potential savings for you as a business as well as your staff (in both scenarios).
You can offer your employees a company car which they can use for their business and personal needs.
Company cars are taxed as ‘Benefits-in-Kind’ (BiK), but for electric cars the BiK rate is currently 0%.
This means that your employees pay no tax on the benefit they receive as a result of having an electric company car.
You can also offer your employees an electric car through ‘salary sacrifice’.
Here, the cost of the vehicle is taken off your employee’s pre-tax salary.
With a petrol or diesel car, the vehicle cost would then be taxed on the BiK value or the value of the salary sacrificed (whichever is higher) but with electric cars this is currently set at 0%!
Depending on your employee’s tax band, this could lead to savings of over 40%.