Salary Sacrifice
Colleague Cars is the Brand name for TCH Leasing’s salary sacrifice scheme that enables employers to offer their staff access to one of the most sought after benefits, a company car and at no cost to the organisation.
The scheme allows an employee to surrender a portion of their gross salary before statutory deductions for a non-cash type benefit providing savings on both income tax and national insurance contributions.
Although the employee will attract a benefit in kind charge, this is more than offset by the tax and NI savings with lower polluting cars, typically sub 120-160g/km providing the most savings.
TCH Leasing provides the employer with a comprehensive advisory and management service that controls the whole process, including payroll deductions, ensuring no additional administration for the organisation.
This truly unique package delivers genuine value to your employees, increasing staff loyalty and retention and is a powerful recruiting tool.
Employees will benefit from the following services included within the package:
- Fully comprehensive insurance
- Early Termination cover
- All service and maintenance costs
- Replacement tyres
- Breakdown cover including home start and relay
- Road Fund Licence for the period of the contract
The employee enjoys the benefit of a fully funded and maintained car, tackling the corporate grey fleet issue by providing staff that would typically drive older, and more polluting, less well maintained cars on occasional company business with brand new, safer and more environmentally friendly vehicles.
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