TCH Salsa is a salary sacrifice scheme that enables employees to acquire a brand new car every 2, 3, or 4 years under a Salary Sacrifice arrangement with their employer.
The scheme will require that your employees sacrifice an element of their salary which goes towards paying the monthly rental for their car. This will enable them to save an amount of tax and national insurance on the remainder of their salary. The sacrifice will be documented as a variation of the terms and conditions of employment.
The vehicle will be treated as a company car for benefit in kind purposes but tax and NI savings often outweigh the company car tax. The scheme can result in NI savings for you, the employer, which can be retained as a saving or put back into the scheme for the benefit of the employees.
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. This can provide savings to you compared to providing owned company vehicles to employees together with the associated reduction in administrative burden.