Danske Bank UK, the largest bank in Northern Ireland and part of the Scandinavian banking group, has recently instigated a salary sacrifice scheme for cars.
Salary sacrifice is the fastest-growing funding method in the UK, according to statistics collated by the British Vehicle Rental & Leasing Association (BVRLA), which represents all major UK leasing companies. In its recent "Leasing Outlook" report, BVRLA detailed salary sacrifice growth of 41.2%, spurred by low levels of personal taxation for electric vehicle benefits, along with the overall reduction in gross taxes payable by an employee.
The new salary sacrifice employee benefit scheme has been rolled out to Danske Bank employees by Tusker, one of the leading car benefit funders in the UK.
Susan McAllister, Danske Bank UK HR people, services and systems manager, said:
“Following a high level of interest in salary sacrifice schemes from colleagues and continuing our efforts towards improving our carbon footprint as an organization, the Tusker car benefits scheme seemed to be a great solution for us. We can now offer a vehicle to a larger portion of our colleagues, who have not had this option in the past.”
The scheme provides Danske Bank UK employees access to a brand new hybrid or fully electric car for a fixed monthly lease cost. McAllister said the scheme was introduced in September and is rapidly gaining traction amongst the bank’s staff.
Paul Gilshan, CEO at Tusker, added: “We’re focused on ensuring as many people as possible have access to a brand new, low- or zero-emission car, so it’s great to see that the employees at Danske Bank now have access to the scheme, helping them move to greener electric cars.”