FLEXIBLE leasing company SOGO has developed a salary sacrifice scheme that provides a cost-neutral employee benefit.
The leasing company claims that salary sacrifice plays a crucial role in helping motorists adopt electric vehicles ahead of the ban on petrol and vehicles models in 2030.
Employees can drive a new vehicle, for a low fixed monthly cost, with the bonus of a tax and National Insurance (NI) savings. While companies will benefit from a flexible monthly lease, that means they aren’t tied into lengthy contracts during these uncertain times.
Managing Director Karl Howkins said: “We believe that SOGO is the first to offer monthly EV leasing under the salary sacrifice model. Our ultra-flexible leasing will allow employees to run an EV with ease while offering companies the benefit of greater staff retention and greener fleets.”
“We expect that salary sacrifice schemes will boom in popularity over the next ten years because they allow employees to move to EVs in a very cost-effective way.”
The mobility provider has already doubled its electric vehicles orders following the announcement of the Prime Ministers green plan. SOGO claims that it has seen a large increase in enquiries from companies seeking to help employees move to EVs.
EVs are ideal for salary sacrifice schemes due to their zero-emissions attracting lower tax and much lower running costs than ICE vehicles.
Companies are looking to make significant savings on their carbon impact as they report on environmental, social, and governance (ESG) factors. Investors are increasingly applying these non-financial factors to identify material risks and growth opportunities as part of their analysis process.
Howkins added: “More businesses are looking to offer more flexible options to employees who may wish to choose the salary sacrifice model for both economic and environmental reasons. The approach proves popular with HR departments who can offer staff a benefit at little or zero cost to the business.”
SOGO provides ultra-flexible service with leases available from one month to four years. The latest technology will be used to give a digital-led service that will allow customers to order a vehicle in a matter of minutes. It will operate nationally with a network of logistics hubs.
SOGO customers can benefit from a subscription model that includes comprehensive insurance, maintenance, breakdown cover and industry-leading flexibility.
