The UCL Knowledge: Electric Vehicle (EV) leasing scheme

A close-up of an electric vehicle charging, showing the charging lead plugged in
A close-up of an electric vehicle charging, showing the charging lead plugged in to the side of the car
Did you know that, in partnership with NHS Fleet Solutions, UCL offers all eligible staff the opportunity to lease a new electric car? Find out more about this cost-effective way to travel in a more environmentally friendly way.

In June 2023, we introduced UCL EV salary sacrifice lease scheme. This initiative represents a significant stride towards both enhancing UCL’s employee benefits and advancing UCL’s sustainability goals.

Currently, 52 EVs have been ordered, with 46 already on the road.

How does it work?

You can choose an electric vehicle to lease over two or three years via a ’salary sacrifice scheme’. This is where employees can forgo a fixed amount of their gross salary each month in exchange for a non-cash benefit - in this case the cost of leasing an electric car. The amount is taken before income tax and National Insurance (NI), so employees can make substantial tax and NI savings on the cost of their car lease cost.

The lease includes fully comprehensive motor insurance for you and up to four additional named drivers, all routine servicing including tyre replacement, European breakdown cover and access to exclusive special offers.

For more information, including eligibility, tax and pension implications, and next steps, take a look at the HR website.
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