London, England octopusev.com Joined January 2018. . Would be even better if Octopus Electric Vehicles / Octopus Energy sorted out . Funding from HSBC UK will allow Octopus Electric Vehicles to support the growth of its salary sacrifice scheme, which aims to make the switch from a petrol or diesel car to an EV easy and affordable for businesses and drivers. The company, which launched in 2018 and has become one of the UK's go-to electric vehicle specialists, will use the . Octopus Electric Vehicles. This is give me as real-world scenario as possible. the salary sacrifice scheme gets makes a 48k car very affordable. Octopus Electric Vehicles has hit a milestone of over 1,500 companies joining its salary sacrifice scheme in just over a year since its launch.. WorkLife has partnered with Octopus to provide a new, cost-effective and sustainable alternative to owning a car. Free to set up and simple to run. However, BIK tax is determined based on the CO2 level emissions from the vehicle which means that for electric cars it'll be very low. Your need that 40% saving to pay for new batteries when they need replacing. Driver Criteria. Age. Great for businesses and employees, great for the planet. For battery-electric cars, BIK tax is 1% for 2021/22, and 2% for 2022/23. 43. An electric vehicle (EV) version of the popular cycle-to-work scheme is being launched this week by Octopus Electric Vehicles, with participants expected to save an average of 14,445 over three . Octopus Electric Vehicles has revealed a new 100 per cent electric car leasing service for businesses looking to become more environmentally friendly. Verified. 7mo. Here's how the costs of the two cars stack up against each other. ID.3 City Pure Performance: Gross Salary Sacrifice = 331.38 Savings on income tax & NI = 106.05 Benefit in Kind (BiK) = 4.93p/m this tax year -> increasing to 9.86 p/m for next 3 years Avg monthly cost over 4 yrs = 233.96 . Monthly cost of the personal lease Corsa 1.2 SE Edition = 399.52. Darryl Davies. BIK is the value of the benefit you receive - in this case, a car. 60% Tax Rate. Leasing EVs through an effortless salary sacrifice package that empowers businesses and employees. As businesses wake up to the environmental and social governance (ESG) benefits of their employees driving electric vehicles, so Octopus EV has announced it has taken on its 1,500th business client. 1 review. Terms apply. The calculation for the 8,000 free miles! Octopus said many drivers are saving 30 to 40 per cent and some up to 60 per cent. Bear in mind your saving is, this: Assume 500pcm for the Tesla (NET) Fuel cost PA Volvo about 1500 (61mpg on 15k, though probably more) Fuel Cost Tesla (assume 10p rate) at 3.8KWH/mile about 400 PA. Then car tax, insurance, servicing etc. The savings for both employee and employer can be significant. | We are the electric car specialists. 379 p/m. 0. By. We're expanding our Electric Vehicle Growth Team in Weybridge. Octopus Electric Vehicles Limited is authorised and regulated by the Financial Conduct Authority, firm . 45% Tax Rate. Boost your employee benefits with our fully electric car salary sacrifice scheme. Save money and carbon with our salary sacrifice car scheme. 29,447 followers. Redirecting to https://octopusev.com/salary-sacrifice-employers (308) Like Reply 8 Likes. Salary sacrifice makes electric cars cheaper than petrol or diesel- a bold claim but true! Octopus Electric Vehicles Limited is authorised and regulated by the Financial Conduct Authority, firm reference number 809736, company number 10754317. . We offer the whole package from expert advice, to great deals on the best cars, to . Octopus is best known as an electricity and gas provider, but in 2018 they branched out to electric vehicles and the salary sacrifice scheme. 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.. 7,998.40 - is the effective 'additional' salary that I'm to be taxed on (Total cost of vehicle X BiK rate) 7,620.00 - is the salary im sacrificing (company has to pay 635 a month for the vehicle so 635 X 12) 40,000.00 - My current taxable salary. The i7 combines a spacious, tech-packed interior with . Show your team you care. Available on PCH, BCH and selected Salary Sacrifice deals. Terms apply. The scheme is the next step in the company's mission to help businesses reduce their carbon . businesses need to partner with a specialist provider, such as Hippo. Octopus EV offers a business's employees a new EV under a salary sacrifice scheme. Neil and Stuart from TPXimpact explain the benefits of their business being part of Octopus Electric Vehicles salary sacrifice scheme. Salary sacrifice specialists. 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 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. Check out what 795 people have written so far, and share your own experience. The whole package - the car, charging and green energy. We're looking for an Electric Vehicles Sales Specialist, who will be responsible for managing sales directly with our customers focusing on our salary sacrifice product. GB. For example, for a 40 per cent tax rate payer opting for a Tesla Model 3, the typical net cost for an employee is . The salary sacrifice scheme for electric cars provides an all-in-one service for drivers looking to make the switch. BMW i7 | Octopus Electric Vehicles. August 1, 2022. You . To access these schemes. 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. Motor Vehicles Office Tel:(02)27630155 E-mailgc_mvo@mail.taipei.gov.tw Address : No.21, Sec.4, Bade Rd.,Taipei, 10561 City Bus : Take 257, 205, 276, 203 or 202 and get off at the MVO stop MRT : Get off at Dr. Sun Yet-Sun Memorial Hall Station, check the map, then walk 10 minutes to reach the MVO Paid parking spaces (free for the handicapped) are available The Octopus EV salary sacrifice scheme claims to offer everything you need to hit the road in your brand new EV, including the car, charger, energy, insurance, servicing, maintenance, breakdown and tyres. . If you OWN it, brilliant, money in the bank. Delta assisted the Taipei City's Parking Management and Development Office (PMDO) in building a fully functional electric vehicle (EV) charging facility featuring easy deployment and management. Our electric car salary sacrifice scheme is free to join and saves your business money on NI contributions. . 'Salary sacrifice makes electric cars a . Example 2: Skoda Enyaq. LONDON (April 22, 2022) - On Earth Day a movement that's been campaigning for more than 50 years to protect the planet we live on leading employee benefits provider Unum UK announces an electric vehicle (EV) salary sacrifice program for its 800+ permanent UK employees. Nicholas Hellen from The Times caught up with us recently on how getting your car through work in return . "I don't know why any employer wouldn't offer this" Stuart and Neil from TPXimpact, one of the forward thinking companies that joined the electric . EV leasing, expert advice, great deals on the best cars, to the best charging solutions for you - the whole package. The Electric Dreams Salary Sacrifice Scheme includes no hassle insurance in one price. The figures are based on the employee's marginal rate of income tax* which impacts the net salary sacrifice value. Octopus EV salary sacrifice lease versus typical personal lease including initial rental cost. -Effective (net) cost per year - 3100 (vs 6k private lease, 56% saving) -Extra into SIPP - 4350. Features At home charger and installation is included in the lease cost. The figures above are the estimate of the true net monthly cost to the employee of taking this car via salary sacrifice. The Electric Dreams scheme offers a 'salary sacrifice' system, similar to UK's cycle-to-work scheme that allows employees . -. Date of experience: October 22, 2022. Octopus Electric Vehicles has launched a new leasing company offering 100% electric salary sacrifice schemes. A salary sacrifice scheme allows employees to drive a fully electric company car, by forgoing a portion of their gross salary. This provides savings of 290 per month, inclusive of income . Since the car is for personal use, the electric salary sacrifice scheme will be required to pay Benefit in Kind tax. They chose Octopus Electric Vehicles because our specialism in pure EVs complements their Environmental, Social, and Governance (or ESG) agenda. Octopus communication and help during the . Volvo assume 400 insurance, . 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. The service aims to help employees make the switch to clean driving easier and cheaper. 18 comments on LinkedIn =. Similar to the popular cycle-to-work scheme, employers can give their staff a highly valuable benefit that is also . Like Cycle-to-Work, employees save up to 40% on car costs. More than 1,500 companies have joined Octopus Electric Vehicles salary sacrifice scheme since it launched just over a year ago. 11 comments on LinkedIn 07 Apr 2021. . Not only can you make savings each month when you switch to an electric car through our salary sacrifice scheme, but you also get to . Quality service. The salary sacrifice scheme for electric cars provides an all-in-one service for drivers looking to make the switch. The package includes 5,000 free miles of home charging with Octopus Go, access to 5,000 miles of Electric Juice credit to use across the UK . -Effective (net) cost per year - 1700 (vs 6k private lease, 71% saving) -Extra into SIPP - 6800. Please note that this is calculated based on charging your car during the off-peak window (at 5p kWh this is 100 of credit). Wendy Laverty. The newly set up Edinburgh-based loveelectric, which specialises in supplying electric cars through salary sacrifice schemes, says a higher-rate taxpayer (those earning 50,271+) can typically . 16% - BiK rate for electric vehicles in 2019 = 7,998.40. The latest addition to the BMW electric lineup. Octopus Electric Vehicles | 31,561 followers on LinkedIn. After we realised how good Salary Sacrifice was - making EVs a no brainer - our team has worked tirelessly to design and deliver a scheme that makes it easy and cost-neutral for companies of all shapes and sizes to set up and run. What are the benefits of a salary sacrifice scheme for an employer? You will be the face and the voice of the Octopus Electric Vehicles, advising and supporting customers throughout their journey towards purchasing an EV. Example 1: Hyundai IONIQ. Octopus Electric Vehicles has 5 stars! Pantheon joined our EV salary sacrifice scheme back in May 2021 to give their team a great employee benefit - access to big savings on electric cars. It includes the car, full maintenance and insurances. Salary Sacrifice 0. It is one of the fastest growing schemes of its kind in the UK and one of the reasons for Octopus' five-star Trustpilot rating . Octopus Electric Vehicle Leasing Scheme. =. Octopus Electric Vehicles reserves the right to stop this promotion at any time. Octopus said many drivers are saving 30 to 40 per cent and some up to 60 per cent. This is achieved by those drivers sacrificing some pre-tax salary in . This is just the latest move in Unum UK's . The current BIK is 2%, and is set to remain that until 2025. 3 days ago. In the UK, Octopus Energy Group's EV arm, Octopus Electric Vehicles has launched a new leasing service called Electric Dreams. Harvey Williams. The project installed over 100 AC chargers and management systems with remote charging devices supervision in public parking lots throughout Taipei. DD. . 294 p/m. The amount will be deducted before tax and National Insurance contributions are applied, akin to childcare, gym membership or cycle-to-work schemes. Through a salary sacrifice arrangement employees can benefit from an affordable electric vehicle leasing scheme which allows employees to lease an electric vehicle of their choice, as well as . The. Octopus Electric Vehicles Limited is authorised and regulated by the Financial Conduct Authority, firm reference number 809736, company number 10754317. April 22, 2022. It's what has helped make salary sacrifice the cheapest way to own an electric car. 1w. Octopus Electric Vehicles has revealed a new 100 per cent electric car leasing service for businesses looking to become more environmentally friendly. Salary sacrifice is an employee scheme that enables people to exchange part of their gross (before tax) salary for a non-cash benefit, such as a bike, season ticket or brand-new electric car. But that's not all. Monthly cost of the salary sacrifice Corsa-e SE Premium = 330.08. . 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