Employees
As employees, you deserve to have access to the best company benefits on offer. Allowing you to get behind the wheel of a brand-new car at a fraction of the price compared to other leasing methods.
The process is simple too, with payments coming directly out of your pre-tax salary, allowing you to benefit from lower lease payments and a reduction in taxable income.
What is Salary Sacrifice?
It's the opportunity to use some of your salary before Tax & National Insurance is deducted, to pay for a brand new leased vehicle. It means you can save money by reducing your Income Tax & National Insurance contributions compared to personally leasing the same vehicle.
The benefits increase significantly if you lease a pure electric vehicle.
Why go electric?
Choosing an electric vehicle not only makes your switch from petrol or diesel easier, but also enhances your salary sacrifice further, with...
- The ability to include a fully fitted home charging point
- Low Benefit in Kind (BIK) charges
- Zero tailpipe emissions
- Free parking in some cities
- Lower running costs
- ULEZ compliancy
How it works...
Introduce Us
Refer your employer and we'll contact them directly to explain the scheme and its benefits.
Employer Signs Up
We work with your employer to design and implement a tailored salary sacrifice scheme.
Select Your Vehicle
Once the scheme is live, access our deals and we'll help you choose the perfect car.
Drive & Save
When your vehicle arrives, payments are automatically deducted from your salary.
Refer your employer to enjoy enhanced savings and drive a brand new car with our salary sacrifice car deals
Already setup with Yorkshire Fleet's Salary Sacrifice scheme? Sign-in to our portal to generate your quote now...
Employee FAQs
No, employees only need to participate if they wish to, provided they meet the scheme's eligibility criteria.
- Eligibility: Your gross basic pay must not fall below the National Minimum Wage or National Living Wage at any time during employment, after the salary sacrifice reduction.
- Licence requirement: You must have held a full UK or EU driving licence for a minimum of 12 months.
- Employment status: You must be a permanent PAYE employee for a minimum of 6 months and have completed your probationary period.
- Job security: You must not have resigned, be at risk of redundancy, or due to retire before or during the lease period.
- Absence: You must not be long-term absent due to illness or leave.
- Insurer criteria: You must meet the vehicle insurer's eligibility criteria, such as age, claims, and convictions.
There is extensive information on HMRC's website relating to salary sacrifice arrangements, and you can also take external advice.
Yes, you cannot sacrifice your salary to an extent which would cause your earnings to fall below the applicable National Minimum Wage or National Living Wage.
(Your employer may impose other exclusions — you would need to speak to your employer to clarify.)
Yes, your student loan repayments will be affected, because they're calculated based on your gross salary, which is reduced by salary sacrifice.
- Impact: Reduced gross salary means reduced student loan repayments are deducted each month.
- Consideration: This may mean it takes longer overall to repay your student loan, so it's worth factoring in before joining the scheme.
Private sector pensions, where both the employee and employer contribute monthly, are the most common type and are not affected by salary sacrifice.
- How it's calculated: Your pension contributions are based on your salary before salary sacrifice is deducted from your gross salary.
No, the only change to your employment terms is the agreed reduction in gross salary and the provision of the vehicle benefit — everything else in your terms and conditions remains unchanged.
Termination fees will apply if you end the lease before the agreed term ends, though exceptions exist for certain life events.
- Standard terms: Termination fees apply should you wish to terminate the lease before the end of the agreed term.
- Life event exceptions: In certain circumstances, such as long-term sickness or maternity leave, you may be able to withdraw from the scheme without being liable for the termination fee.