Ultra Electronics signs salary sacrifice deal with Tusker
Ultra Electronics, which employs around 4,000 employees worldwide across 24 businesses and is based at Greenford, Middlesex, has operated a flexible benefits scheme providing an array of benefits including holidays, dental and medical cover, pensions, cycle to work and childcare vouchers to employees for a number of years.
This is Ultra's first move into the provision of salary sacrifice cars, however, and the decision to select Tusker's SalarySacrifice4Cars scheme (SS4C) was based on the compatibility of systems with its existing benefits provider, Vebnet, and the lack of suitable flexible benefits arrangements from its existing company car fleet suppliers, said HR Director, Keith Thomson.
‘We had previously carried out employee surveys which showed that the availability of cars as part of the benefits package would be attractive to many of our staff. This is our way of answering those requests.
‘We have set a limit of 150g/km for cars in the scheme, because we didn't want to exceed the 160g/km threshold for corporation tax and we want the scheme to be as green as possible.
‘We normally target a minimum 2-3% take-up for new benefits within our scheme and we would be happy with this level of participation across the car scheme,’ he added.
The scheme is open to all employees who have been with the company for more than nine months and they may elect to have a car at any time during the year, up to a maximum of one vehicle, and may opt out of the company car scheme if they wish.
Tusker managing director David Hosking commented: ‘We are delighted to be the salary sacrifice car provider to Ultra Electronics for its UltraSelect flexible benefits scheme, and look forward to a long and mutually rewarding business relationship.’For more of the latest industry news, click here.