What is Salary Smart?

Salary Smart is an arrangement where an employee gives up part of their future earnings in exchange for a company car. As the salary is being ‘exchanged’ rather than paid from the gross amount, the employee does not pay Income Tax or National Insurance Contributions (‘NICs’) on the exchanged amount. In addition, an employer doesn’t pay NICs on the amount of salary exchanged either.

Employer administration is avoided since all the processes and reporting is fully automated and outsourced via our web based ‘self-service’ portal.