Salary Sacrifice Calculator
Interested in an electric car through our salary sacrifice scheme? Use our EV salary sacrifice calculator below to find out how much you could save each month.
Salary sacrifice calculator
Select a car and enter your pre-tax annual salary to see how much you could save on our electric cars.
Your savings summary
Your savings summaryPlease choose a vehicle and enter a salary to see your savings summary
You would save on this car subscription through salary sacrifice.
Your monthly saving of is made up of in National Insurance, in income Tax, minus in Benefit-in-Kind (BiK) tax.
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Your employer would also save * per month, made up of a saving in VAT and saving in National Insurance, minus paid in Benefit-in-Kind (BiK) tax.
*elmo’s fee will be calculated separately. VAT saving based on standard use of a salary sacrifice vehicle.
Next steps
Now you have a better idea of the potential savings on offer for both employees and employers, simply fill in a quick form to get started.
Even better, if you successfully refer your company – you could bag yourself a £250 Amazon voucher. Simply complete our contact form, submit the name and email of someone in your organisation and if your company successfully signs up at least 1 subscriber, we’ll give you a voucher. A little thank you from us to you for spreading the love.
Want more information about our salary sacrifice scheme?
We know it can be confusing, so we’ve put together two very simple guides which explain all the features and benefits of our EV salary sacrifice scheme for both employers and employees. Click on the links below to find out more!
FAQs
What is an electric car salary sacrifice scheme?
Salary sacrifice schemes for electric cars involve giving up or ‘sacrificing’ a portion of your pre-tax pay in return for an electric car. Why you might ask? Well, since it’s taken from pre-tax pay, you save money by paying less tax and National Insurance each month. What’s special about our scheme is you get the electric car on a subscription. Which means that your insurance, tax, MOT and maintenance is all included in your monthly payment.
How much can I save through salary sacrifice?
You can save anywhere between 30-60% on the cost of the non-cash benefit. The amount you save will depend on your tax bracket and salary. Use our calculator above to work out how much you could save on an electric car subscription.
How is salary sacrifice calculated?
It’s calculated based on the cost of your non-cash benefit, so in our case, an electric car subscription. But it could include other non-cash benefits like a cycle-to-work scheme or even your pension. Once you know the total value of the benefit, that value is deducted from your salary and your remaining tax and National Insurance contributions are calculated. With any salary sacrifice scheme, there is a benefit-in-kind tax to pay. Luckily for electric cars, the BiK tax is just 2% – which is why salary sacrifice for electric cars is so attractive.
Any Questions?
Call us on 0330 165 4945
Email us at hello@elmodrive.com
Try our suitability tool
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