Pink Salary Exchange is our version of a salary sacrifice car scheme and it works in a very similar way to other salary sacrifice benefits (like Cycle to Work). These salary sacrifice schemes have been approved by HMRC and offer a multitude of benefits to employers and employees.
Essentially, an employee will ‘exchange’ part of their salary for a new car with a CO2 of below 76g/km. Your employee can choose a brand new electric or hybrid vehicle as part of the scheme and Pink Salary Exchange will manage the entire process to make things as seamless as possible.
The reduction for HMRC approved product or service is from gross salary instead of net which reduces the real cost to the employee and saves NI contributions.
Essentially, an employee will ‘exchange’ part of their salary for a new car with a CO2 of below 76g/km. Your employee can choose a brand new electric or hybrid vehicle as part of the scheme and Pink Salary Exchange will manage the entire process to make things as seamless as possible.
The reduction for HMRC approved product or service is from gross salary instead of net which reduces the real cost to the employee and saves NI contributions.