cash & eco fleet schemes

At a simplistic level, a basic cash scheme provides employees with a fixed financial sum in lieu of a car, paid through payroll. This money can then be used by staff to purchase a vehicle, or as monetary perk to supplement their salary. It is usually subject to tax at the highest marginal rate. However, other more efficient mechanisms of providing cash schemes exist.

Our specialist cash scheme consultants will assess a range of factors and variables and will work with you to identify what, if any, type of cash scheme is suitable for your business. We take into account vehicle operating policies, current versus future costings and identify the business' objectives for such a scheme.

Some factors prompting consideration of cash schemes are to:

• Save money
• Save individual Benefit-in-Kind taxation (BiK)
• Remain cash neutral
• Provide more flexible employment options
• Deliver greater employee value