Venson Adds Car Salary Sacrifice Function - Reducing Costs And Grey Fleet Risks
By Maddy Price
Wednesday, August 10, 2016 - 15:18
Venson Automotive Solutions has added a new Car Salary Sacrifice module to its Customer Portal, helping employers take control of grey fleet costs. Its launch comes as a new Energy Saving Trust (EST) report* reveals that employee-owned cars cost organisations over £5.5 billion a year in mileage claims and car allowances. Venson’s new bespoke online salary sacrifice vehicle comparison and selection tool, Venson Advantage, benefits employees and fleet managers alike, by providing a tool that supports the delivery of a flexible benefit scheme whilst addressing green driving and duty of care.
“The EST research shows that the UK’s grey fleet comprises 14 million cars, which accounts for 40% of all vehicles on the road,” explains Simon Staton (Pictured) of Venson Automotive Solutions. “With the average age of a grey fleet car being over 8 years old, these vehicles are likely to have higher environment harming emissions. We support the BVRLA’s call to tackle the issue of grey fleets, which wastes money and damages the environment.”
The new interactive, intuitive tool from Venson gives users a ‘My Quotes’ personal log-in, allowing them to compare up to 10 vehicles side-by-side. The fleet of vehicles offered is predetermined by the employer and users can compare vehicles based on any one of a number of options including engine size, CO2 ratings, mpg, P11d value, whole life cost and BIK cost. Employees can also see information on the vehicle’s standard fit options as well as factory fitted optional extras. Monthly costs can be adjusted as choices are made to help the employee remain within their predetermined allowance.
Additionally, to help the employee understand the impact of the salary sacrifice payment on their monthly salary, the tool shows the deductions based on their tax bracket and monthly allowance. It also includes a ‘future view’ letting an employee know what the affects of any published changes in taxation (CO2 & BIK) for the next three years will have on their salary.
Simon Staton concludes, “The addition of the Venson Car Salary Sacrifice module to our Interactive Portal puts fleet operators and their drivers in control, helping to eliminate the need for grey fleet vehicles and the associated costs. As the BVRLA urges the government and firms to cut grey fleet mileage, Venson is giving employers more tools to help them make the change, fully customised to their individual business and fleet needs.”