What is TCH Salsa?
TCH Salsa is a scheme that enables employees to acquire a brand-new car every 2, 3, or 4 years under a Salary Sacrifice arrangement with their employer.
By agreeing to a reduction in your salary which goes towards paying the monthly rental for your car, you can save an amount of tax and national insurance on the remainder of your salary.
Although you have to pay company car tax, because the use of the vehicle by your employer is classed as a ‘benefit in kind’, the tax and NI savings often outweigh the company car tax.
Every vehicle supplied on the scheme includes road tax, all routine servicing and maintenance, breakdown cover, all tyre replacements*, and fixed premium, fully comprehensive insurance (with up to two additional drivers if required) for the whole of the Salary Sacrifice scheme contract.
All you have to budget for on top of this is your electricity or fuel.
*stolen or vandalised tyres are exlcuded.
What Savings Can I Expect?
You can benefit from savings with tax, national insurance and possibly VAT, depending on the vehicle you choose.
Fully electric vehicles provide more savings as there is just 2% company car tax payable on EVs through to April 2025.
Could I get a Better Deal Elsewhere?
The tax and national insurance savings are only available on salary sacrifice schemes through your employer.
When comparing personal lease deals, you need to take into account insurance premiums, vehicle excise duty and maintenence costs, which may not be included in conventional personal contract hire.
With an owned vehicle, you would be responsible for all of those costs, the risk of your vehicle losing value, and the possibility of serious mechanical or electrical issues, which in some cases can cost significant amounts to put right.
TCH Salsa is a car scheme that gives all employees the opportunity to have the much sought after benefit of a company car whilst saving tax and national insurance. Affordable motoring incorporating all maintenance costs and insurance so you can plan your finances with certainty whilst driving a modern environmentally friendly vehicle.