News

GKL makes ECOS simple for Promat staff

5 March 2010
One of the UK's leading manufacturers of fire protection products, following the advice of their tax advisor, has turned to GKL Leasing for its new vehicles.

GKL has signed a deal with Promat UK, a market leader in passive fire protection and high temperature insulation materials, to supply 40 employees with new lease vehicles.

Promat's tax consultant, Jo Darling from SNT Consulting, recommended GKL Leasing because of its experience in delivering Employee Car Ownership schemes (ECOS) and the level of customer care and service it provides.

Employee car ownership schemes (ECOS) allow companies to retain control of their vehicle fleet, thereby ensuring the vehicles are fully maintained, correctly insured and fit for purpose although the employee owns the car.

Jo Darling explains: "At SNT we developed a specific scheme for Promat. We chose GKL because they have considerable experience in delivering these complex schemes, so that employees receive the best advice possible to suit their vehicle needs and pockets.

"In Promat's case GKL will be supplying 40 vehicles in total, all sorts of different makes and models. The company assists the employee with the funding of the vehicle, but the ownership of the vehicle is the driver's from day one therefore no form P11D is required and the employee does not pay tax on a benefit."

GKL's general manager John Stevenson adds: "We offer vehicle consultancy on a very personalised one-to-one basis and because of the way this package is structured, SNT and GKL deliver advice to the employee on the best vehicle, and the cost implication of that.

"For the employee, it turns what can be a very complicated scheme into some simple advice, and also allows them much greater flexibility in the kind of vehicle they want, rather than a narrow set of choices seen on most fleet vehicle lists.

"We look after all the vehicle management aspects of the package, reducing the duty of fleet care on Promat, but giving the employee a real sense of ownership of the vehicle. Additionally, the employee can utilise the car insurance rates offered to the company, making the whole ECOS package the most cost effective for the company and the employee."