LeasePlan launches salary sacrifice product

LeasePlan UK, part of the world’s biggest vehicle management group, today announced the launch of its salary sacrifice product – SalaryPlan.

Recent changes in tax structures, along with emission reduction targets, have seen salary sacrifice schemes for company cars become an increasingly attractive proposition for employers and employees. SalaryPlan represents the latest step forward for the approach.

SalaryPlan has been developed over a number of months, building the infrastructure and support needed to run a salary sacrifice scheme in such a way that it’s easy to use and tailored for individual organisations.

The product has seen considerable investment to create an intuitive online driver interface that can be used to compare vehicles, prices and place orders. This is all integrated with existing LeasePlan UK operational systems to manage the order process and on-going driver and vehicle support. SalaryPlan has also been specifically designed to link in with all the major established flexible benefits providers.

LeasePlan UK is also able to offer a number of extra services through SalaryPlan, such as accident management and insurance, making it an attractive solution for any company or organisation contemplating a scheme of this nature.

Alongside the product, LeasePlan UK offers consultancy support that can guide organisations smoothly through the regulatory, HR and driver communication matters essential for the successful implementation of salary sacrifice programmes.

Matt Dyer, commercial director at LeasePlan UK, comments: "In today’s highly competitive world the challenge to both attract and retain high quality people and talent is crucial. SalaryPlan has the potential to give employers the edge and we are experiencing interest from a wide range of companies and public sector organisations. The potential tax savings for the employees and their employers are significant, and it could prove a very effective way of getting employees out of their own, often older, high emissions vehicles and into new low emission cars. A well run salary sacrifice scheme also has the capability to tackle the often concerning issue for companies and organisations of the 'grey fleet'.

"However, these schemes are by no means an off the shelf, one size fits all solution. Every organisation is different, with a different employee base, a different culture and different operational needs. Understanding if salary sacrifice will work for you, and how to best shape your scheme, can be a big but crucial first hurdle. Our product, SalaryPlan, can help jump that hurdle. It has been designed to meet the salary sacrifice needs of different types of organisations right across the private and public sector."

ENDS