Are you aware of benefit savings to reduce costs post COVID-19?
A change in legislation which came into effect in April this year means that EVs now have zero benefit-in-kind (BiK) tax. This has resulted in significant savings for employees, as well as savings through lower National Insurance (NI) contributions for the employer. Yet, one fifth (20%) of HR bosses aren’t aware of the recent change, despite 44% and 39% of companies respectively offering either employee car ownership or salary sacrifice for a car.