The Marketing Store Partners with Octopus Electric Vehicles to Offer Electric Vehicle Leasing to UK Staff
Today, The Marketing Store announces a new partnership with Octopus Electric Vehicles which will provide all UK permanent employees access to an electric vehicle leasing scheme.
The scheme allows staff to get a brand new, zero emission fully-electric car through salary sacrifice and is open to all UK permanent employees who have held their license for a minimum of two years.
It is one of several initiatives the customer engagement agency, who received sustainability certification by the Planet Mark last year, is running to help its staff cut their carbon emissions. Other initiatives include a cycle to work scheme, shifting the London office to 100% renewable energy, increasing the efficiency of its IT equipment and processes and banning single-use plastics in the office. This Earth Day, the company is also running an internal initiative to encourage staff to reduce their digital carbon footprints by cutting back on unnecessary emails.
Over 130 companies and 22,000 employees are currently signed up to Octopus’ salary sacrifice scheme, which sees drivers save up to 60% on the cost of leasing an electric vehicle. Similar to the system used for cycle to work schemes, staff can pay for a brand new electric vehicles from their gross salary, saving thousands of pounds on both national insurance and income tax. On 6th April 2021, Benefit in Kind (BIK) tax for electric vehicles increased from 0% to a still negligible 1%, and will only rise to 2% over the next three years. By comparison, combustion vehicles are subject to a typical BIK tax of 25-35%. Octopus’ salary sacrifice scheme unlocks these tax savings for drivers, making driving electric simple and affordable.
Mark Watson, MD, The Marketing Store, Europe said: “At The Marketing Store, we believe in actions not words, and are just as committed to innovating sustainable solutions on behalf of our staff, as we are our clients.”
“That’s why we’re delighted to be working with Octopus Electric Vehicles, a company leading the change in green customer experiences, to offer our UK permanent staff this new, cost-effective and sustainable alternative to owning a car.”
Fiona Howarth, CEO of Octopus Electric Vehicles, said: “Our salary sacrifice scheme for electric vehicles is a zero-cost, zero-effort tool to help businesses fight climate change whilst offering an excellent benefit to their employees. If just 10% of the UK’s employees switched to electric, we could decimate the CO2 emissions of cars, while collectively saving almost £4bn per year*.
“We are thrilled to see The Marketing Store at the forefront of this green revolution by offering our service to their employees, helping them switch to electric and lead more sustainable lifestyles.”