Benefit-in-Kind is a tax on a non-salary perk, which in this case would be a company car.
As the car is a benefit for your employees, they’ll need to pay the Benefit-in-Kind tax.
Every car has a calculated BIK percentage. By choosing an electric or hybrid vehicle, you can reduce your BIK tax payment..
There is no deposit to pay with the Pink Salary Exchange.
There is no credit check required, giving you peace of mind that you can apply quickly and easily!
In reality, any of your employees can join and benefit from the scheme.
However, we do suggest putting in place some simple rules and after this everyone is welcome as long as the salary exchange amount does not take an employee below the minimum wage threshold.
Pink Salary Exchange is fully managed by us. We take care of every aspect of your policy for peace of mind and to make the process as hassle-free as possible.
Of course, there will be some elements of employer administration required, such as keeping track of driver exchanges and invoices, but we will handle everything else.
The basic principle is a simple one. The employee chooses a car to be provided by the employer as part of their employment package.
The employee then ‘sacrifices’ part of their salary to fund the vehicle. This means that they can benefit from a fully managed company vehicle at a very cost-efficient price which includes everything but fuel.