Salary Sacrifice Schemes?

glenimp617 · 12 Feb 2020 at 11:36

mrbell1984 said:
So you would be really just renting it then if you ever leave the company. Not sure I like that.

this isn't buying the car it's leasing

Deleted member 77746 · 12 Feb 2020 at 11:37

TheOracle said:
this isn't buying the car it's leasing

ah right got ya.

I thought salary sacrifice you get to keep the goods when it's paid off.

glenimp617 · 12 Feb 2020 at 11:38

mrbell1984 said:
ah right got ya. I thought salary sacrifice you get to keep the goods when it's paid off.

somethings you can, but this scheme is for leasing. It's a good way of bringing your salary down to reduce tax.

Kenai · 12 Feb 2020 at 12:11

mrbell1984 said:
ah right got ya. I thought salary sacrifice you get to keep the goods when it's paid off.

Salary sacrifice is simply a method of paying for something before your salary gets taxed rather than after (and thus save on your tax bills), it has no bearing on what you're paying for and whether that's to own something, lease it, add to pension or whatever else.

bimbleuk · 12 Feb 2020 at 12:12

TheOracle said:
Jeez

Fuel savings are going to be huge. I'm with SO Energy so need to check their prices.

@bimbleuk did you get the smart meter from Octopus?

Yes the energy supplier has to install the SMETS2 meter to enable any variable tariffs. SMETS may be a bit controversial currently but the SMETS2 implementation should allow for easier switching in the future as the network is independent of the suppliers.

Here's a good place to start when comparing EV tariffs.
https://www.zap-map.com/charge-points/ev-energy-tariffs/

Russinating · 12 Feb 2020 at 13:20

bimbleuk said:
Yes the energy supplier has to install the SMETS2 meter to enable any variable tariffs. SMETS may be a bit controversial currently but the SMETS2 implementation should allow for easier switching in the future as the network is independent of the suppliers.

Here's a good place to start when comparing EV tariffs.
https://www.zap-map.com/charge-points/ev-energy-tariffs/

Not correct fortunately. I have a SMETS1 and it's compatible with Octopus Go.

glenimp617 · 12 Feb 2020 at 14:10

bimbleuk said:
and the Luxury tax on the car of 5 x £310 for a Model 3 if not factored in..

is this still applicable on salary sacrifice as I thought tax was in with the deal? another reason to go for it imho

Skully · 12 Feb 2020 at 14:36

Russinating said:
Not correct fortunately. I have a SMETS1 and it's compatible with Octopus Go.

Whereas mine doesn't work

bimbleuk · 13 Feb 2020 at 06:59

TheOracle said:
is this still applicable on salary sacrifice as I thought tax was in with the deal? another reason to go for it imho

Probably not in this case wort mentioning for others reading the thread.

Skully said:
Whereas mine doesn't work

Mine isn't on their list either so they're swapping out my SMETS1 meter even though it was designed to be modular and firmware upgradable. Probably too much hassle to implement.

glenimp617 · 13 Feb 2020 at 14:57

The Audi E-Tron is silly cheap through my works deal :eek:

and it actually looks like a really nice car

MagicBoy · 14 Feb 2020 at 19:57

Yeah, the work salary sacrifice scheme is heavily favouring electric when the BIK changes in April. An eGolf has dropped from £350 a month to ~£170. Leaf £165, Zoe £209.

eTron is £249 ... on a £60k car.

glenimp617 · 15 Feb 2020 at 09:23

MagicBoy said:
Yeah, the work salary sacrifice scheme is heavily favouring electric when the BIK changes in April. An eGolf has dropped from £350 a month to ~£170. Leaf £165, Zoe £209.

eTron is £249 ... on a £60k car.

are you remembering that a lot of the prices shown are net prices (meaning they have already used the gross amount taken from your salary sacrifice). If you are running it through a salary sacrifice calculator, you need the gross value, not net

I think the base spec e-tron is £395 net, not £249

MagicBoy · 15 Feb 2020 at 10:42

Those headline numbers are the take home pay reduction in the average salary, but you can easily get the exact numbers. The gross cost on an eTron is ~£470 which includes insurance and all maintenance.

In my case the take home pay reduction is ~£300 with some nice metallic paint and a fast charger installed at home. That's with another salary sacrifice already going out and taken into account. All I'd have to do is pay for electricity on top...

glenimp617 · 15 Feb 2020 at 18:44

MagicBoy said:
Those headline numbers are the take home pay reduction in the average salary, but you can easily get the exact numbers. The gross cost on an eTron is ~£470 which includes insurance and all maintenance.

In my case the take home pay reduction is ~£300 with some nice metallic paint and a fast charger installed at home. That's with another salary sacrifice already going out and taken into account. All I'd have to do is pay for electricity on top...

which company is that if you don’t mind me asking

MagicBoy · 15 Feb 2020 at 18:50

I work in the public sector, so can utilise the NHS scheme.

glenimp617 · 15 Feb 2020 at 18:54

MagicBoy said:
I worked in the public sector, so can utilise the NHS scheme.

ah ok, the audi etron 50 quattro technik is £552 gross (£375 for me). That's 2 years and 7,500 miles. Everything included, insurance, tax, servicing, breakdown cover etc etc

I still think this is a fantastic deal. In fact this morning I went to my local dealer for a look at one. The base spec is still pretty loaded with stuff.

MagicBoy · 15 Feb 2020 at 19:00

Same car, 2 years and 6,000 miles on this one. Up the mileage to 8,000 and it's an extra £10 a month.

glenimp617 · 15 Feb 2020 at 19:09

MagicBoy said:
Same car, 2 years and 6,000 miles on this one. Up the mileage to 8,000 and it's an extra £10 a month.

£480 gross?

I'd get my order in

I'm also calculating the extra price differences between that, the sport and sline models with and without paint. The free paint is brilliant black, unsure if that looks good or not.

MagicBoy · 15 Feb 2020 at 19:18

TheOracle said:
£480 gross?

Yeah.

I was looking but it's on hold for the moment. Got extended custody of a family members Auris Hybrid at the moment after life threw them a curve ball, so it's costing me £0 a month.

Plus I've got that old infrastructure problem of getting a charger installed. Basement car park under the building, no accessible power without incurring significant building work, assuming the building management would allow it. There are on-street chargers a couple minutes walk away but infrastructure is a worry generally with increasing numbers of EVs.

glenimp617 · 15 Feb 2020 at 19:29

MagicBoy said:
Yeah.

I was looking but it's on hold for the moment. Got extended custody of a family members Auris Hybrid at the moment after life threw them a curve ball, so it's costing me £0 a month.

Plus I've got that old infrastructure problem of getting a charger installed. Basement car park under the building, no accessible power without incurring significant building work, assuming the building management would allow it. There are on-street chargers a couple minutes walk away but infrastructure is a worry generally with increasing numbers of EVs.

My head tells me the technik in brilliant black for £375 is the one to go for. Overall it will be saving me £200 a month from where I currently am.
Now, do I bank that saving....or go silly and get the sline with some options