Salary sacrifice comparison tool launched by Venson
12 August 2016
Author: Daniel Puddicombe
Fleet management company Venson Automotive Solutions has added a new car salary sacrifice module to its customer portal to help employers take control of grey fleet costs.
The comparison and selection tool - known as Venson Advantage - allows users to compare up to 10 vehicles side-by-side. Vehicles offered in the selection are pre-determined by the clients fleet specification and users are able to compare cars based on a number of options including engine size, CO2 emissions, P11D value and wholelife cost data.
Employees are also able to see information on the vehicle's kit list, while monthly costs are able to be adjusted to help workers stay within their monthly allowances.
Venson's tool also shows the impact the car salary sacrifice payments have on the employees paycheck and the deductions based on their tax bracket and monthly allowance. The tool also includes a 'future view' option, showing how any changes in taxation in the next three years may affect their salary.
"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," said Simon Staton of Venson. "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."
Grey fleet vehicle usage has been put into the spotlight recently following the publication of a report by the BVRLA which revealed businesses pay more than £5.5bn a year in mileage claims and grey fleet car allowances. Off the back of the report, BusinessCar has put together eight tips on how to reduce your grey fleet reliance which you can find here.