ECO Schemes
Employee Car Ownership (ECO) schemes are financed by a combination of company car tax savings, business mileage reimbursed using Inland Revenue approved rates, and cash.
Employees legally own the car and because company car tax rules no longer apply there are Class 1 NIC savings for you and no BIK liabilities for your drivers.
At Hitachi Capital we use Deloitte & Touche Fleet Choice ® to evaluate the most effective route for your business. If you are considering a scheme and currently have more than 100 company cars then please contact info.vs@hitachicapital.co.uk.
Employees legally own the car and because company car tax rules no longer apply, they often end up financially better off, while employers generally save money.
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