ORA Salary Sacrifice Examples

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

Best Rated EV Salary Sacrifice Scheme
The Electric Car Scheme Salary Sacrifice
  • Competitive Prices
    Any brand, every model

  • Early Termination Protection
    From day 1 (excludes resignations)

  • All-Inclusive Package
    EV, Breakdown Cover, Insurance & Home Charger

  • B Corp Certified Business
    Highlights a dedication to sustainable and ethical business practices

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.

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ORA Salary Sacrifice example @ 20% tax rate

ORA ModelP11D PriceMonthly Lease CostIncome 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 ModelP11D PriceMonthly Lease CostIncome 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 ModelP11D PriceMonthly Lease CostIncome 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.

Best Rated EV Salary Sacrifice Scheme
The Electric Car Scheme Salary Sacrifice
  • Competitive Prices
    Any brand, every model

  • Early Termination Protection
    From day 1 (excludes resignations)

  • All-Inclusive Package
    EV, Breakdown Cover, Insurance & Home Charger

  • B Corp Certified Business
    Highlights a dedication to sustainable and ethical business practices

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