We offer various monthly salary sacrifice profiles to suit the needs of employees who enter into a salary sacrifice agreement:
- Flat salary sacrifice profile
- 6- month accelerated salary sacrifice profile
- 12 - month accelerated salary sacrifice profile
Flat salary sacrifice profile
A flat salary sacrifice profile ensures the employees monthly salary sacrifice amount will remain the same throughout the whole lease term. Our fee, invoiced to the company each month, will also remain the same amount throughout the lease term.
The only exception will be in the instance the employee opts to include an electric charger in their order. As the Electric Car Scheme will pay for this on the employees behalf upfront, the cost will be included in our monthly invoice and split across the first 3 months (380.00gbp each month). The cost is then recouped by the company via the employee salary sacrifice.
For more information read this article:How do I pay for my home charger?
6 - month accelerated salary sacrifice profile
If an employee selects a 6 month salary sacrifice profile, they will experience higher monthly salary sacrifice amounts in the first 6 months. This takes into account that our fee is taken upfront in the first 6 months and not spread across the whole term (as per a flat salary sacrifice profile). This also means the company will only pay our fee for the first 6 months of that particular employee's lease term. After the first 6 months we will cease to invoice the company for our fee.
12 - month accelerated salary sacrifice profile
A 12 month salary sacrifice profile will mean the employees monthly salary sacrifice amount will be higher in the first 12 months due to our fee being taken in these first 12 months (as opposed to being spread across the whole term of the lease). After the first 12 months the employees monthly salary sacrifice will drop substantially and we will cease to invoice the company for our fee for that particular employees scheme.
In all cases with any payment profile we always ensure the employee doesn't drop below National Minimum Wage.