Salary Sacrifice leasing calculator
Salary Sacrifice is a UK model where the employee pays for the car from their gross salary and pays lower taxes as a result. The system calculates these benefits automatically and accounts for regulation changes up to 3 years ahead.
Problem
Salary Sacrifice is a growing segment of the UK market, but it requires precise tax benefit calculations - different in each tax year and changing with regulations. Manual calculations lead to errors and undermine customer trust.
Solution
We built a Salary Sacrifice module with a tax engine covering tax bands and Benefit-in-Kind, which depends on the car's CO2 emissions and electric range. The calculator shows the employee how much they save on income tax and National Insurance contributions. Insurance costs are fetched automatically from an external system, and results recalculate live as the form is filled in. Rates for upcoming tax years - up to 3 years ahead - are configured in the admin panel, with no code changes.
Result
Brokers offer Salary Sacrifice with full cost transparency. The employer saves on tax, the employee on contributions, and the platform adjusts to rate changes on its own.
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