Select Car Leasing and RingGo partner in electric vehicle scheme

Employees at leading cashless parking provider RingGo can now access an electric vehicle (EV) salary sacrifice scheme following a new partnership with Select Car Leasing.

With salary sacrifice, an employee ‘sacrifices’ a part of their salary to receive a company car in return, whilst paying less income tax and National Insurance. Employers can enjoy a reduction in National Insurance Contributions, and it is also considered an effective staff incentive.

The partnership is being spearheaded by Select Fleet Solutions Eton, Berks, a specialist fleet management division of Select Car Leasing, one of the UK’s largest independent specialists for car and van leasing and headquartered in Reading.

The scheme is fully aligned with RingGo’s environmentally friendly mission: as a certified carbon neutral, carbon neutral plus, and carbon reduced company, the salary sacrifice scheme is reserved exclusively for electric vehicles. RingGo currently offers EV charging for their 150 employees at their Basingstoke HQ at Chineham Business Park.

Ian Wilson, principal of Select Fleet Solutions Eton, said: “Select Fleet Solutions is delighted and excited to be aiding RingGo with a new electric vehicle salary sacrifice scheme. This scheme is a brilliant way for both employers and employees to make financial savings.

It’s also a great incentive for employees, helping RingGo to both recruit and retain staff. And the interest in EVs is soaring; at present around 60 per cent of all our enquiries are for fully electric vehicles, and 20 per cent for plug-in hybrids (PHEVs).

“There are many benefits of choosing an electric vehicle over a traditional petrol or diesel car. By reducing CO2 emissions, businesses are not only supporting the fight against climate change, but also benefit from ultra-low Benefit in Kind (BIK) company car tax, which is fixed at just 2 per cent until the 2024/25 financial year.”

Peter O’Driscoll, managing director at RingGo, adds: “At RingGo we have products for our customers like Emission Based Parking (EBP) that help Councils reduce emissions. We are very pleased that we can now also offer our employees a solution that supports our environmentally friendly mission, to make our cities healthier and more liveable, with this salary sacrifice scheme specifically for EVs.

“Every colleague is going to have their own individual requirements and budget when it comes to the vehicle they want, and we are confident that Select Fleet Solutions will show them all of the different options, while also offering guidance on charging and energy costs.”

By Mark Adair – Correspondent, Bdaily

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