Date post: | 12-Apr-2017 |
Category: |
Lifestyle |
Upload: | roger-skinner |
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About Maxxia
Salary Sacrifice
Lifestyle Lease
Benefits for Employers
Benefits for Employees
Established for over
20 years
Australia’s largest outsourced salary packaging provider
Over 1,200 clients including the Commonwealth Government
Market Capitalisation of over AUS$1 Billion
A leading provider of workplace benefits in Australia and part of the McMillan Shakespeare Group. Bringing its extensive experience to the UK market!
Managing 70,000 vehicles
Top 150 listed company
270,000 employee customers
Currently the UK salary
sacrifice market is primarily for non-essential
car users
§ Traditional schemes are provided by
contract hire companies to an
employer
§ Usually the employer takes full responsibility for
the associated early termination risk (and cost) in
the event of employees leaving
§ Under our arrangement the
agreement is portable,
allowing the employee to take
the car should they leave
It’s an attractive employee benefit 1100% employee focused, the employee is responsible for the contract obligations as these remain with the employee 2Employer involvement is limited to collecting payment through gross salary deductions and authorising employees for the scheme 3
Lifestyle Lease is a regulated hire agreement and the structure and content is approved by leading accountancy and legal professionals 4
Employees are encouraged to retain the vehicle if they move to another employer as this vehicle is of the employees choice 6Lifestyle Lease competes with: • Retail funding deals available through manufacture dealerships • Traditional company car salary sacrifice schemes • Corporate cash for car schemes
7Lifestyle Lease directly addresses FCA affordability and consumer credit regulatory requirements together with early termination. The scheme is also designed to mitigate the costs associated with long term absence
8
Maxxia assumes a residual value risk on the forecast value of the vehicle at the end of the lease term 5
+ Employee enters into the agreement for the vehicle
+ The employer operates the agreement on behalf of the employee
+ The employee benefits from a salary variation
+ The agreement is portable and provides the employer and employee with the greatest level of flexibility available
+ This is a unique approach
How it works
“Over half of employees listed your benefits and their remuneration package as the main influencer in their choice of employer”
“Employees consider a company car to be one of the prestigious benefits they can receive”
+ Scheme is designed to hold employer at no risk
+ Lifestyle Lease has the ability to deliver a saving to the employer through NIC reduction
+ Reduced grey fleet and associated health and safety issues
+ Significant enhancement of the reward package
+ Encourages employees to drive cars with lower CO2 emissions – improving corporate and social responsibility credentials
+ Positive recruitment and retention tool
+ Financial Conduct Authority (FCA) compliant
+ Significant savings with Lifestyle Lease compared with leasing and insuring a car privately
+ Includes motor insurance and maintenance for the full contract period – just add fuel!
+ Benefit of hassle-free motoring for a fixed monthly payment
+ Tax-efficient – reduces tax and NI contributions
+ Eliminates future value and disposal risk
+ Access to employer negotiated manufacturer discounts
+ Sell existing owned vehicle to release and retain the sale proceeds
+ Portable the employee keeps the vehicle and the contract can be transferred to a new employer
+ Employee may acquire the vehicle at market value
The Maxxia Lifestyle
Lease Website
Maxxia Lifestyle Lease office posters