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Zenith Electric Car Scheme Overview
Zenith specializes in providing salary sacrifice car schemes, with a strong focus on electric vehicles (EVs). These schemes offer a way for employees to access new EVs through a tax-efficient arrangement.
Key Features and Benefits:
Salary Sacrifice Car Scheme Electric Car Scheme Zenith
Salary Sacrifice:
This arrangement allows employees to sacrifice a portion of their pre-tax salary in exchange for an EV. This results in potential savings on income tax and National Insurance contributions.
Electric Vehicle Focus:
Zenith emphasizes EV options, supporting the transition to sustainable transportation.
All-Inclusive Package:
The scheme typically includes:
Fully comprehensive insurance.
Road tax.
Scheduled servicing and maintenance.
Replacement tires.
Breakdown cover.
Windscreen and glass cover.
No Upfront Costs:
Employees can often access EVs without requiring a deposit or upfront payment.
Benefits for Employers:
Cost-effective: The scheme can be cost-neutral or even cost-saving due to reduced National Insurance contributions.
Sustainability: It supports corporate sustainability goals by reducing the company’s carbon footprint.
Employee attraction and retention: Offering EV salary sacrifice can enhance employee benefits packages.
Simplified administration: Zenith takes care of much of the administration.
How it Works:
Employees choose an EV from the available selection.
A portion of their salary is sacrificed before tax and National Insurance deductions.
The monthly cost covers the all-inclusive package.
The employer benefits from reduced National Insurance contributions.
Important Considerations:
The electric revolution: steps to a fully charged fleet Zenith
Benefit-in-Kind (BiK) Tax:
While EVs have lower BiK rates compared to traditional vehicles, it’s essential to understand the applicable tax implications.
Scheme Terms and Conditions:
It’s crucial to review the specific terms and conditions of the salary sacrifice scheme, including early termination options and any potential charges.
In summary:
Zenith’s electric car scheme provides a comprehensive and cost-effective way for employees to drive new EVs, while also offering benefits to employers.
To find more detailed and up to date information, it is always recommended to visit the official Zenith website.
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