Tax-Efficient Driving with Zero Stress

What Is a Salary Sacrifice Car Scheme?

A salary sacrifice scheme allows employees to exchange part of their gross salary in return for a fully maintained leased vehicle. This deduction is made before tax and National Insurance, reducing your overall taxable income and monthly outgoings.

The most significant savings come when leasing electric cars through salary sacrifice, thanks to the current 2 per cent Benefit in Kind (BiK) rate on EVs.

How Does It Work?

It’s simple. Your employer partners with a leasing provider like Silverstone to offer access to a fleet of vehicles. You select your preferred model – such as a Tesla Model 3 or Hyundai IONIQ 5 – and the cost is deducted from your gross pay each month.

What’s included:

• Maintenance and servicing

• Insurance

• Breakdown cover

• Road tax

• Free nationwide delivery (See how we deliver)

All of this is handled by our team, removing the stress and providing a fully managed, tailored leasing plan.

Benefits for Employees and Employers

For Employees:

• Significant savings on income tax and National Insurance

• No deposit required

• Fixed monthly costs with everything included

• Access to in-stock vehicles for quicker delivery

• Drive premium EVs at a lower cost

For Employers:

• Enhance employee benefits without raising costs

• Improve retention and recruitment

• Lower fleet emissions and support ESG goals

• Fully managed scheme with no admin headaches

Why EVs Are Perfect for Salary Sacrifice

Electric vehicles are the standout choice under salary sacrifice due to the low BiK tax, government incentives, and lower running costs. Whether you’re interested in a Tesla, Polestar, or Kia EV6, our exclusive offers give you access to high-demand models with outstanding value.

Learn more about salary sacrifice for Tesla and discover the options available.

Things to Consider

Salary sacrifice can impact your pension contributions and other statutory benefits, as your gross salary is technically reduced. However, for most drivers – especially higher-rate taxpayers – the savings far outweigh the downsides.

It’s important to ensure the arrangement doesn’t reduce your salary below the National Minimum Wage. Our team at Silverstone will guide you through every detail to ensure full compliance and clarity.

Ready to Get Started?

Visit our dedicated salary sacrifice hub to explore your options, see example savings, and get answers to common questions. Or speak to one of our friendly leasing experts about how we can tailor a scheme for your business.