Electric Car Salary Sacrifice Calculator: Business Profile




Businesss Profile

Before You Start

We recommend you read our guides on Electric Car Salary Sacrifice - they will help you prepare for the calculation.

Getting Started

To get started with our Electric Car Salary Sacrifice Calculator we need some details about the business.

Complete the business profile below and then click on the 'Employee Profile' button to continue.

Don't worry if you don't know the answers to all the questions - just use the sample answers below until you have the correct details.


Business
Tax
Rate
%
VAT
recovery
rate:
%
VAT
Periods



Recover Lost Business
Tax Relief
From Employee

Recover Lost VAT
On Rentals
From Employee

Company
Pension
Contribution
%










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Your Business Profile

To get started with our Electric Car Salary Sacrifice Calculator we need some information about your business.

Business Tax Rate

This is the corporation tax rate paid by your company - if you're not sure of the rate use the sample rate we've put into the box to get you started.

We need this information to calculate the effect of tax relief for the vehicle's finance costs.

VAT Periods

This is duration of your VAT returns, typically monthly (large businesses), quarterly (medium sized businesses) or annually (small businesses).

If you aren't VAT registered select 'Annual' and put '0' in the box for 'VAT recovery rate'.

VAT recovery rate

If you are VAT registered you will probably recover all your input VAT so leave the VAT recovery rate at 20% (the current standard rate of VAT).

If you only get back part of your VAT put in the percentage you recover.

For example, the standard VAT rate is 20%. If you only get back half of your input VAT put in 10% (half of 20%).

Remember to press the 'Enter' key after your entry.

Recover Lost Business Tax Relief and VAT

If you lease a company car then you may have a restriction on the tax relief for lease rentals against business taxes for the lease costs may be restricted if the CO2 output of the selected car exceeds certain limits.

You can adjust the deduction from the employee's salary for the provision of the car to take account of this.

By default we add an adjustment to the employee's net pay (if this applies to the selected car) but you can opt not to charge the employee for this - just select 'No'.

The same principle applies to VAT recoverable on lease rentals. If you lease the Salary Sacrifice company car then the deduction against business taxes for the lease costs may be restricted if the CO2 output of the selected car exceeds certain limits.

You can adjust the deduction from the employee's salary for the lost VAT to take account of this.

By default we add an adjustment to the employee's net pay (if this applies to the selected car) but you can opt not to charge the employee for this - just select 'No'.

Company Pension Contribution

If you have a company pension scheme and pay employer's contributions then you can see the effect of pension contributions in the Salary Sacrifice calculation.

Just set the pension contribution rate as a percentage of salary.

When you're finished click on the 'Employee Profile' button.


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(+44 1482 772553 outside UK)