Your employer, Yu Life is passing back some of their NI savings made by the business in relation to your salary sacrifice agreement, the website currently doesn’t show this saving, so the net reduction cost you see, isn’t the actual net cost to you.
The below tables are based on an MG Motor UK ZS Electric Hatchback 115kW SE EV Long Range 73kWh 5dr Auto over 3 years, with 8,000 miles per annum, and will give you an idea of the additional savings to be made.
If you would like to find out about a specific vehicle, please contact Phil Hudson on 07341 560474
Example based on 20% Tax
Gross Cost | £717.73 |
Tax | £143.55 |
NI | £95.10 |
BiK | £10.48 |
Employer NI | £80.88 |
Net Reduction | £408.68 |
Example based on 40% Tax
Gross Cost | £717.73 |
Tax | £287.09 |
NI | £23.33 |
BiK | £20.96 |
Employer NI | £80.88 |
Net Reduction | £347.39 |
Example based on 45% Tax
Gross Cost | £717.73 |
Tax | £322.98 |
NI | £23.33 |
BiK | £23.58 |
Employer NI | £80.88 |
Net Reduction | £314.12 |