Electric Vehicle Salary Sacrifice Scheme
Imperial offers you access to a leasing scheme for a brand-new electric car.
The scheme is offered through salary sacrifice, which means monthly payments will be taken from your gross salary before Income Tax and National Insurance deductions, therefore reducing the amount of tax and NI you pay.
There are so many benefits to driving electric, for you and for the environment. In addition to being cheaper to run, you can also help reduce your carbon footprint.
Further Information
The scheme is offered through Tusker, and you can access a portal to search the range of electric cars available and compare prices. Prices are based on your personal details and will include your salary, address and driving history.
Once you’ve decided on the car you want, you can submit your order online. Once we have completed all necessary checks and approved your order, Tusker will place your order with the manufacturer and provide an estimated delivery date. You can monitor your order status on the Tusker website.
The scheme is available to all employees who have completed at least 6 months’ service with Imperial. The shortest lease period is two years, and your Imperial contract must extend beyond this two-year period.
To request a quote and view the range of cars available, visit the Tusker website. To create an account, you will need your company code "IMPE" and your College ID Number (CID), excluding the zeros at the start of your CID. This can be found on your payslip and Imperial ID card.
If you need any support in signing up, you can contact hrrewardandbenefits@imperial.ac.uk
Car leases can run from 24 to 48 months, and monthly payments include:
- A brand new electric bar built to your specification
- No deposit
- Fully comprehensive motor insurance for you, and the option to add additional drivers
- Annual servicing
- Routine maintenance and repair
- Full RAC breakdown cover (including onward travel)
- Replacement tyres
- 24-hour driver support line
- Lifestyle protection in case of a change to your circumstances, such as resignation, redundancy, or long-term sickness
- Accident management (excluding insurance excess of £250)
Salary sacrifice means you exchange part of your gross salary, in return for a benefit – in this case, a new car and all the added extras shown above. The salary is sacrificed before Income Tax and National Insurance are deducted, so you pay less tax and National Insurance. We will ensure your salary does not fall below the National Living Wage, especially if you are already using salary sacrifice, e.g., for a pension. As this is a benefit provided to you, Benefit in Kind (BiK) tax will be due.
BiK is a tax on benefits provided by your employer in addition to your salary. The Government is incentivising Electric Vehicles (EVs), which are cars registered with tailpipe carbon emissions of 0g/km CO2; therefore, the savings you make on EVs will outweigh the BiK due.
For pure electric cars, BiK is just 2% until April 2025, then increasing by 1% each year until April 2028.
Tusker webinar Recording (March 2024)
Tusker Webinar Recording (19 March 2024)
The scheme provider, Tusker, hosted a webinar explaining details of the scheme, on 19 March 2024. This is the recording for those who were unable to attend.
FAQs
Please visit the Tusker portal and click on the salary sacrifice option for Tusker's FAQs
Imperial specific FAQs
- How will salary sacrifice impact my pension?
- What happens to my salary sacrifice deductions whilst I am on maternity leave?
- Who Can Apply?
- What Car Lease Terms Are Available?
This depends on what pension scheme you are a member of.
SAUL and USS recognise salary sacrifice and it doesn’t reduce pensionable pay. The NHS do not, therefore pensionable pay is reduced.
If you are entitled to Imperial’s enhanced pay provisions, then deductions for the electric vehicle will continue as usual for the first 18 weeks of maternity leave. From week 19 onwards, when you are on statutory pay and then unpaid leave (if applicable), the deductions will stop being taken from your salary, and will be covered by Imperial. Once you return to work following family leave, and your full pay is re-instated, the deductions will continue.
Imperial Salaried Staff
If you are on a fixed term contract please contact hrrewardandbenefits@imperial.ac.uk
Please note this scheme is not available to PHD Students, GTA staff or Casual workers.
Imperial Staff can choose 1 of 3 lease options.
- 24 Months
- 36 Months
- 48 Months