Alphabet launches digital salary sacrifice scheme to drive corporate EV take-up
Alphabet has introduced a new fully digital salary sacrifice product for its corporate customers, supporting the switch to electric vehicles.
The scheme replaces the firm’s previous salsac offerings and stands out as a fully digitalised and enhanced solution that provides access to a range of different EVs, all accessible through an intuitive online quoting and ordering portal.
Alphabet said the new scheme launches in response to increased demand for salary sacrifice car schemes from new and existing customers, particularly as the electric vehicle market continues to grow.
Its scheme provides customers with the flexibility to offer all employees access to EVs, including those who may not have been previously eligible for a company car.
By ‘sacrificing’ a fixed amount of their pre-tax salary each month and just paying the low Benefit-in-Kind for fully electric vehicles, employees can access a brand-new car, while business can save on car allowances and Class 1A NICs.
Participating employees can run as many quotes as they wish, clearly showing the amount of salary sacrificed and potential tax savings, ensuring quick and easy comparisons.
Estimated running costs per mile bring further clarity to the in-life savings offered by EVs.
Employers are able to maintain control over the scheme by determining the range of vehicles displayed in the portal and approving vehicle requests before fulfilment.
Alphabet’s team of experts also provide full support on implementation and management.
David Rose, head of product management, Alphabet (GB), commented: “Alphabet has been a driving force in electrification for many years now and we remain committed to helping customers transition to ultra-low and zero emission fleets. The introduction of Alphabet Salary Sacrifice helps improve the accessibility of EVs, creating more opportunities for our customers, and their employees, to gain the electric advantage.”