The ORA Funky Cat is one of the best EV salary sacrifice options if you are looking for a quirky choice! It has a retro feel that aims to compete with the MG4 in the salary sacrifice space.
Our ORA Funky Cat salary sacrifice examples help you understand a clear picture of potential savings and expenses across various tax brackets.
Learn about the salary sacrifice tax benefits that the ORA Funky Cat could offer if you choose this pocket-sized EV as your electric company car.
Editors Pick: ORA Salary Sacrifice Provider
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How we calculated our ORA Salary Sacrifice examples
Each example breaks down the potential savings and costs involved in a salary sacrifice scheme, which includes:
- The amount of income tax saved
This is calculated as a percentage of the monthly lease cost and depends on your income tax band. - National Insurance (NI) savings
For these examples, an employee’s NI rate of 2% was applied to the monthly lease cost. - The Benefit In Kind (BIK) that would be paid
BIK is a tax applied to employees who receive benefits or perks on top of their salary. The current rate of 2% of the P11D price (divided by 12 for a monthly figure) was used. - The employer’s NI contribution to the BIK value
This is calculated at a rate of 13.8% on the BIK value. - The net cost
This represents the overall monthly cost to the employee after all deductions and additions. - Monthly lease cost
We took this figure from the current Octopus Electric Vehicles price.
These calculations provide a starting point for understanding how an electric car salary sacrifice scheme could impact your monthly outgoings if you were to lease or subscribe to an ORA. They should be used as a guide rather than definitive advice, and it is always recommended to consult with an accountant for personalised advice.
ORA Salary Sacrifice example @ 20% tax rate
| ORA Model | P11D Price | Monthly Lease Cost | Income Tax Saved (20% band) | NI Saved (12%) | BIK Paid @ 2% | Employer's NI on BiK (13.8%) | Net Cost (20% band) |
|---|---|---|---|---|---|---|---|
| ORA Funky Cat | £31,995 | £331 | £66.20 | £6.62 | £53.33 | £7.36 | £311.51 |
ORA Funky Cat Salary Sacrifice example @ 20% tax rate
- P11D list price: £31,995
- Monthly lease cost: £331
- Income tax rate: 20%
- Income tax Saved: £331 x 20% = £66.20
- National Insurance (NI) Saved: £331 x 2% = £6.62
- Benefit In Kind (BIK) Paid @ 2%: (£31,995 x 2%) ÷ 12 = £53.33
- Employer’s National Insurance (NI) on BiK: (£53.33 x 13.8%) = £7.36
Net monthly cost: £331 – £66.20 – £6.62 + £53.33 = £311.51
ORA Salary Sacrifice example @ 40% tax rate
| ORA Model | P11D Price | Monthly Lease Cost | Income Tax Saved (40% band) | NI Saved (12%) | BIK Paid @ 2% | Employer's NI on BiK (13.8%) | Net Cost (40% band) |
|---|---|---|---|---|---|---|---|
| ORA Funky Cat | £31,995 | £331 | £132.40 | £6.62 | £53.33 | £7.36 | £245.31 |
ORA Funky Cat Salary Sacrifice example @ 40% tax rate
- P11D list price: £31,995
- Monthly lease cost: £331
- Income tax rate: 40%
- Income tax Saved: £331 x 40% = £132.40
- National Insurance (NI) Saved: £331 x 2% = £6.62
- Benefit In Kind (BIK) Paid @ 2%: (£31,995 x 2%) ÷ 12 = £53.33
- Employer’s National Insurance (NI) on BiK: (£53.33 x 13.8%) = £7.36
Net monthly cost: £331 – £132.40 – £6.62 + £53.33 = £245.31
ORA Salary Sacrifice example @ 45% tax rate
| ORA Model | P11D Price | Monthly Lease Cost | Income Tax Saved (45% band) | NI Saved (12%) | BIK Paid @ 2% | Employer's NI on BiK (13.8%) | Net Cost (45% band) |
|---|---|---|---|---|---|---|---|
| ORA Funky Cat | £31,995 | £331 | £148.95 | £6.62 | £53.33 | £7.36 | £229.06 |
ORA Funky Cat Salary Sacrifice example @ 45% tax rate
- P11D list price: £31,995
- Monthly lease cost: £331
- Income tax rate: 45%
- Income tax Saved: £331 x 45% = £148.95
- National Insurance (NI) Saved: £331 x 2% = £6.62
- Benefit In Kind (BIK) Paid @ 2%: (£31,995 x 2%) ÷ 12 = £53.33
- Employer’s National Insurance (NI) on BiK: (£53.33 x 13.8%) = £7.36
Net monthly cost: £331 – £148.95 – £6.62 + £53.33 = £229.06
The final word on ORA salary sacrifice examples
The ORA Funky Cat, with its retro charm, offers a quirky alternative to high-performance salary sacrifice options such as the ever-popular Porsche Taycan or the BMW salary sacrifice range.
If you are less concerned about driving performance and interior space, this electric car’s safety ratings and distinctive looks do stand out.
Our salary sacrifice breakdown for the Funky Cat provides a great overview of the advantages of salary sacrifice for this model. You can see there are potential tax savings on the monthly lease costs, and with our breakdown, you get a clear understanding of what to expect financially.
The numbers play a crucial role. The decision also hinges on your own financial situation – seek advice before signing up for an ORA Funky Cat salary sacrifice to make sure it is the right decision for your circumstances.
- Free Ohme home charger
- 4,000 free miles of charging
- Intelligent Octopus EV tariff
- Public charging via Octopus Electroverse
- All EV's on the market
- Built-in early termination protection
John is the Editor and Spokesperson for Electric Car Guide.
With over 20 years of writing experience, he has written for titles such as City AM, FE News and NerdWallet.com, covering various automotive and personal finance topics.
John’s market commentary has been covered by the likes of The Express, The Independent, Yahoo Finance and The Evening Standard.
