Quote:
Originally Posted by BlkGS
I don't think this is really a common thing in the US. Is the idea that you're supposed to be able to get it cheaper through your employer or something?
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Correct a scheme that takes the money before tax, only on electric cars typically. So on Ioniq 5N it takes about 40% off the monthly cost, you pay no deposit, no insurance, no vehicle tax and all maintenance and servicing included for 2,3 or 4 years.
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An electric car salary sacrifice is just like these other benefits, only you use your pre-tax salary to pay for an electric car. This costs you less because your income tax and National Insurance contributions are based on your income after your salary sacrifice payments – so you aren’t taxed on the portion used to pay for the electric car “