Green Lease Car Salary Sacrifice Scheme

In addition to the current child care, cycle to work and home computing salary sacrifice schemes, NYC offer their employees the opportunity (subject to eligibility checks and insurance restrictions) to undertake a private lease of a new low emission car of their choice, fully maintained and insured by the provider. Cars are available from many leading brands eg Audi, Citreon, Ford, Kia, Nissan, Peugeot and Vauxhall.

Staff will pay for the car under salary sacrifice arrangements through a monthly gross salary deduction which means a saving in tax, NI and pension for employees using the scheme (between 30.6% and 57%). An example is provided below by our provider, Tusker, on how you can save:

An example of what you could save:

Example*

Total before savings

Tax saving

Employee NI saving

Pension

saving

Benefit-in-kind tax

Total savings

Total net cost to employee

Citroen C1 Hatch

3Dr 1.0i VT

£205.86

£38.37

£21.82

£14.00

£16.53

£57.66

£148.20

* Examples based on 20% tax payer who is a member of the LGPS for 36 months and 10,000 miles per annum. Prices correct as of March 2014 and are subject to change. Terms and conditions apply.

The green lease car scheme for staff includes only those cars with limited emissions of 120g co2 or below, so for staff changing from cars with higher emissions which tend to be larger or older, there will be some carbon saving in use.

The scheme works by you agreeing to terms on application and committing to 36 months of deductions from your gross salary. At the end of the 36 months you can choose to return the vehicle, order a new one or obtain a quote to purchase the vehicle. For more information please see the additional guidance documents e.g. FAQ's.

Unfortunately due to pension restrictions on salary sacrifice, the full savings cannot be offered to staff on teaching terms and conditions. However, an alternative Green Lease Car Affinity Scheme has been launched to cater for Teachers and other employees unable to take advantage of the salary sacrifice option detailed above.

Access to these great staff opportunities is available at our Everybody Benefits website at Everybody Benefits. A link to the schemes are available only from this website so please log on to Everybody Benefits in the first instance then follow the links to the Green Car Scheme.