One of the most exciting tasks when starting a new job is making sure you tick the box for the best company car. Increased taxation means that not as many employees are clamouring for a set of work wheels, but choose wisely and it still remains an excellent perk that can also save you cash. Of course, the best way to reduce Benefit-in-Kind is to pick an electric vehicle , with business users being liable for a charge based on just 2% of the car’s value.
However, while EVs have come on leaps and bounds, these types of machines still don’t make sense for many drivers, who rack up big distances on a tight schedule. As a result, traditional internal combustion engine and hybrid models still make more sense for many employees. Of course, many of them will result in a much larger salary sacrifice than zero emissions vehicles, but choose carefully and you can still minimize your monthly outlay.
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