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More than two-thirds of the business drivers (68%) do not understand salary sacrifice schemes according to research by the UK's largest leasing company, Lex Autolease.
Under the schemes, employees sacrifice part of their pay packet each month in return for a vehicle provided by their employer. It reduces tax and national insurance contributions while the employee gets all the benefits of a company car.
"We know company cars are highly valued by employees, and salary sacrifice is a very effective way to provide a company car to employees who may not traditionally be entitled to a vehicle,"
said Andrew Hogsden, a strategic fleet consultant at Lex Autolease.
"To ensure they are getting the best solution possible, businesses need to do more to educate employees about the breadth of options available to them. Only then can they maximise the potential of salary sacrifice to motivate and reward staff."
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