What is a salary sacrifice car?

With Tusker’s Car Benefit Scheme, you agree to give up part of your salary in exchange for a non-cash benefit – in this case a brand new car. The reduction to your salary is made before income tax and National Insurance are calculated, making it better value than a normal private lease agreement. As it’s through your employer you will benefit from bulk manufacturer discounts, discounted finance rates and VAT efficiencies compared to a retail deal. Under the scheme there is company car tax, which is the tax payable on the Benefit in Kind (BiK). Your car is liable for Benefit in Kind tax as it is being provided as a benefit by your company.

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