Employee Car Ownership Schemes (ECOS)
Savings, flexibility, increased choice and control all under one solution.
Your business and employees can enjoy the operational benefits of a company car, but without the associated company car tax.
Generate Savings
Create material savings for your business and your employees in comparison to car car tax - and decide how these are distributed and utilised.
Gain Full Control
Create a car benefit policy and choose how much your employees contribute towards the running costs of their car. We’ll also help you maintain it, saving you admin and resource.
Fleet Freedom
You have the freedom to choose which cars can be added to your ECOS solution, and this can be a combination of petrol, diesel and EVs. You can also align the cars you choose with your operational needs.
How ECOS Works
Employees choose a vehicle
Selection, ordering and delivery all managed on the CBS Portal.
Vehicle is sold to employees
Employees no longer subject to company car tax.
Employees pay monthly
Contribution via net pay and no impact on credit score.*
Easy renewal process
At the end of term, employees can choose a brand new car.
Provide a market leading car benefit, helping you to attract new talent and retain the best staff.
No company car tax
Freedom to choose any car
Fixed monthly repayments
Operational benefits of a company car
No impact on credit score*
Can keep the car at the end of term
*See FAQs for further information.
Hassle-free Vehicle Maintenance
We’ll help and support you throughout the duration of your fleet contract.
Breakdown Support, Windscreens & Tyres
Service, Maintenance & MOT
Fines & Charges Management
Replacement Vehicle
Driver Dedicated Helpdesk
With ECOS, the ownership of the vehicle passes to the employee when the car is delivered. This means that Benefit-in-Kind tax and Class 1A National Insurance Contributions are not applicable. You choose a fixed amount to deduct from your employee’s net pay each month to cover the running costs of the car.
Remember, our ECOS can be one part of your overall solution alongside our other products, creating a blended car benefit package.
Discover all our solutions for employee car benefits.
- Generate savings on your current fleet.
- Continue driving the cars that work for your business and employees.
- Employees driving business miles.
- Remove the P11D admin burden of your current solution.
An Employee Car Ownership Scheme (ECOS) is an efficient method of delivering a vehicle to your employees with the benefits of a company car, but without the usual associated tax. The car is sold to your employee via a Credit Sale Agreement (CSA) and as ownership is transferred to them, the car is no longer classed as a company car and Benefit-in-Kind tax (known as company car tax) isn’t payable.
HMRC only need to be notified if your employee is changing from a company car to an ECOS vehicle. Your employee should let them know that they are no longer in a company car so their tax code can be updated accordingly. They can update HMRC online here after logging into their Government Gateway account, or by downloading the HMRC app. Alternatively, they can call on 0300 200 3300.
The employer insures ECOS vehicles on the fleet policy, so employees can drive the vehicles for business, social, domestic and pleasure purposes.
Settle the outstanding finance and retain the vehicle; or exercise the option to sell the vehicle back to CBS for the pre-agreed price stated in your CSA. Subject to unfair wear and tear, the proceeds are normally enough to settle the outstanding balance(s).
Get in Touch
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