Pictured above are L to R: Conference presenter Paul Parkinson, Synergy Car Leasing; Jeff Whitcombe, BCF Wessex; Alan Carreras, Bridle Group; and Marc McLoughlin, KeyFleet
THE final session of the BVRLA Leasing Broker Conference considered some of the issues facing leasing brokers, including the future of salary sacrifice, something of a golden child at the moment, but a topic that had not surfaced until conference’s end.
Jeff Whitcombe from tax and software consultancy firm BCF Wessex, a significant provider of salary sacrifice tools to 18 clients, offered this view:
Salary sacrifice is a transition from PCH. Current economic pressures are pushing people into salsac.
Jeff added that the key issue surrounding salsac was BIK and what’s happening to it.
There’s a vacuum. I don’t think HMRC will put up BIK too much because the government still wants to push EVs.
Marc McLoughlin, who runs the KeyFleet brokerage and is focusing heavily on the product, said:
SalSac is not as complicated a concept, but it’s how you consult with the business offering salsac. So it's a big leap from transactional to a consultative employee benefit process. We have a lot of interest in salary sacrifice.
That was echoed by Bridle’s Alan Carreras who said the Oxford-based brokerage was experiencing high levels of demand for salary sacrifice.
However, Jeff Whitcombe warned:
The threat is lack of clarity from the government. We need a soft landing going to 2030. If salsac BIK goes to 10% it’s not an issue. But to make salary sacrifice work it’s all about employee engagement and motivation. Potential employees are interested in more than just the finance package - they want to know about attitudes to hybrid working and staff benefits.
The BVRLA Leasing Broker Conference took place on 06 October at the Royal Institute of British Architects in London.
Broker funder Alphabet was the lead sponsor, along with broker funder Leasys, plus Ebbon Group, MotorLease, QV Systems and Trakm8.
Broker News was the media partner of the event.
Photos: BVRLA.
Click here for more stories from the Broker Conference
Updated vehicle delivery standard launched by AFP
The Association of Fleet Professionals is launching an updated agreement designed to set an industry wide fleet vehicle delivery standard for dealers.
New Managing Director for FMG Repair Services
FMG Repair Services has appointed Paul Wrigglesworth as Managing Director, having served as Operations Director with the business since 2022.
How to monitor ARs: FCA shares best practice
The Financial Conduct Authority has released guidance to help principal firms enhance their monitoring of Appointed Representatives.
Scot Group begins Switch rebranding of rental locations
Scot Group has begun the rollout of its new Switch car rental branding across its network of 90 UK locations.
EV battery ecosystem calls for concerted effort to grow alongside EV adoption
The need for a robust and sustainable battery ecosystem is becoming increasingly apparent, says David Gray, Client Director at EV Battery Solutions.
Electric van sales going backwards
Registrations of battery electric vans fell for the third successive month in August, as the vast majority of businesses favoured diesel vans.
Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.
