Glossary
Plain-English definitions for car benefits, fleet, sustainability, and collector cars.
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- 1961 competition specification(Comp/61)
- The designation used for the 1961 lightweight competition specification of the 250 GT SWB Berlinetta. SEFAC Hot Rod is a collector alias.Category: Collector carsVariants: Comp 61, SEFAC Hot Rod
- 2+2 seating
- Two front seats plus two rear seats, as in the Ferrari 250 GTE 2+2.Category: Collector carsVariants: 2+2, 2 plus 2
- 250 Prototype(250 P)
- P stands for prototype. The Ferrari 250 P was a mid-engined sports racer that won the 24 Hours of Le Mans in 1963.Category: Collector carsVariants: 250P
- 250 Sport(250 S)
- S is short for Sport. This early competition berlinetta won the 1952 Mille Miglia.Category: Collector cars
- Battery electric vehicle(BEV)
- A vehicle powered entirely by electricity from a battery, with no internal combustion engine.Category: EV & chargingVariants: BEV, battery-electric vehicle
- Benefit in kind(BIK)
- A non-cash benefit provided by an employer that is treated as taxable income for the employee.Category: Tax & payrollVariants: benefit-in-kind, benefits in kind
- Berlinetta
- An Italian term for a compact closed body. In Ferrari 250 names it generally indicates a sporting coupé.Category: Collector cars
- Broker
- An intermediary that arranges vehicle funding and supply between customers and finance providers or dealers.Category: FleetVariants: leasing broker
- Cabriolet
- An open body with a folding roof. Ferrari used Cabriolet as a model designation for its 250 GT Cabriolet.Category: Collector carsVariants: Convertible
- Car benefit
- The taxable benefit that can arise when a car is made available to an employee for private use, including commuting.Category: Tax & payrollVariants: company car benefit, car benefit-in-kind
- Car benefit charge
- HMRC's charge to tax on a car benefit. The cash equivalent is broadly calculated from the car's tax value and the appropriate percentage, subject to statutory adjustments.Category: Tax & payrollVariants: company car tax charge
- Carbon dioxide emissions
- The amount of carbon dioxide emitted by a vehicle, normally expressed in grams per kilometre (g/km) using the applicable official test procedure.Category: EV & chargingVariants: CO2, CO₂, CO2 emissions, CO₂ emissions, carbon dioxide
- Charging infrastructure
- The network of home, workplace and public charge points that support electric vehicles.Category: EV & chargingVariants: EV charging infrastructure
- Class 1A NIC
- Employer National Insurance contributions payable on most taxable benefits in kind.Category: Tax & payrollVariants: Class 1A National Insurance
- CO2e
- Carbon dioxide equivalent, a standard unit for measuring greenhouse gas emissions based on their global warming potential.Category: GHG ProtocolVariants: CO2-e, CO2 equivalent
- Competizione
- Italian for “competition”. In Ferrari model and variant names it identifies a racing specification.Category: Collector cars
- Consulting services
- Advisory work delivered to clients, distinct from software or implementation-only support.Category: GeneralVariants: advisory services
- Downstream leased assets
- Assets owned by the organisation and leased to others, whose emissions are reported under Scope 3 Category 13.Category: GHG ProtocolVariants: leased assets (downstream)
- Early termination
- Ending a vehicle contract before the agreed term, which usually triggers charges.Category: InsuranceVariants: early-termination, ET
- Electric vehicle(EV)
- A vehicle powered fully or partly by electricity stored in a battery.Category: EV & chargingVariants: EV, electric car
- Emission factor
- A coefficient that allows greenhouse gas emissions to be estimated from activity data, such as miles driven or kWh consumed.Category: GHG ProtocolVariants: emissions factor
- Employer savings calculator
- A tool that estimates the employer-level savings from an EV salary sacrifice scheme, including NIC savings and fleet cost reductions.Category: Tools & calculators
- Employer value proposition
- The combination of benefits, rewards and culture that an employer offers to attract and retain people.Category: GeneralVariants: EVP
- Excess mileage
- Mileage driven above the contractual allowance, which typically incurs a per-mile charge at the end of the agreement.Category: FleetVariants: excess miles
- Ferrari 250 designation
- The number 250 refers to roughly 250 cc per cylinder. The familiar Colombo V12 displaced 2,953 cc in total. The 250 LM kept the model name when most cars received a larger 3.3-litre engine.Category: Collector carsVariants: 250, Ferrari 250
- Ferrari 250 GTE(GTE)
- GT means Gran Turismo. The E matches the type suffix used on the 508E chassis and 128E engine. Ferrari’s original model name described it as a 250 Gran Turismo Pininfarina Coupé 2+2.Category: Collector carsVariants: GT/E, 250 GTE 2+2
- Fleet electrification
- The process of transitioning an organisation's vehicle fleet from internal combustion engines to electric vehicles.Category: FleetVariants: EV fleet transition, electrifying the fleet
- GHG Protocol
- The Greenhouse Gas Protocol, a globally recognised standard for accounting and reporting greenhouse gas emissions.Category: GHG ProtocolVariants: Greenhouse Gas Protocol
- Gran Turismo(GT)
- Italian for “grand touring”. Ferrari used it across several road and competition models.Category: Collector carsVariants: Grand touring
- Gran Turismo Lusso(GT/L)
- L stands for Lusso, Italian for “luxury”. GT/L and GTL refer to the 250 GT Berlinetta Lusso. A period reference to a 250 GT SWB in Lusso specification describes the road-going SWB.Category: Collector carsVariants: GTL, 250 GT Lusso, 250 GT Berlinetta Lusso
- Gran Turismo Omologato(GTO)
- Italian for “homologated grand touring”. Homologation is formal approval for a competition category. The 250 GTO was developed for GT racing.Category: Collector carsVariants: 250 GTO
- Grey fleet
- Employee-owned vehicles that are used for business travel and reimbursed by the employer.Category: FleetVariants: grey-fleet
- Grey fleet calculator
- A tool that estimates emissions, risk and cost exposure from employee-owned vehicles used for business travel.Category: Tools & calculatorsVariants: grey-fleet calculator
- HMRC(HMRC)
- His Majesty's Revenue and Customs, the UK tax authority responsible for administering tax and National Insurance.Category: Tax & payroll
- Home charging
- Charging an electric vehicle at a private domestic property, usually via a dedicated charge point.Category: EV & chargingVariants: home EV charging
- Le Mans(LM)
- The initials in Ferrari 250 LM refer to Le Mans. A 250 LM won the 24-hour race in 1965.Category: Collector carsVariants: 250 LM, 250/LM
- Leasing company
- A finance provider that funds vehicles for employers or employees in return for a monthly rental.Category: FleetVariants: lessor
- List price
- The manufacturer’s recommended retail price of a vehicle, before discounts or dealer incentives.Category: Tax & payrollVariants: MRRP
- Long wheelbase(LWB)
- Wheelbase is the distance between the front and rear axle centres. The Ferrari 250 GT California Spider LWB measures 2,600 mm. The Italian term is passo lungo.Category: Collector carsVariants: Passo lungo
- Mille Miglia(MM)
- The name means “Thousand Miles” and refers to the Italian road race. Ferrari named the 250 MM in honour of the 250 Sport’s 1952 win.Category: Collector carsVariants: 250 MM, 250 Mille Miglia
- On-the-road price
- The advertised total price of a new vehicle including applicable registration and delivery items and Vehicle Excise Duty (VED), subject to the manufacturer's pricing basis.Category: EV & chargingVariants: OTR price, on the road price
- Optional Remuneration Arrangements(OpRA)
- HMRC rules that govern how salary sacrifice and flexible benefits are taxed.Category: Tax & payrollVariants: OpRA rules
- Original equipment manufacturer(OEM)
- A vehicle manufacturer that designs and builds cars and light commercial vehicles.Category: OEMVariants: vehicle manufacturer
- P11D(P11D)
- A UK tax form used by employers to report certain taxable benefits and expenses provided to employees.Category: Tax & payroll
- P11D value
- The tax value used in calculating the car benefit charge, broadly based on the vehicle's published list price including VAT, delivery and relevant factory-fitted options, but excluding the first registration fee and Vehicle Excise Duty.Category: Tax & payrollVariants: P11D car value
- Plug-in hybrid electric vehicle(PHEV)
- A vehicle with both an internal combustion engine and a battery that can be charged from an external power source.Category: EV & chargingVariants: PHEV, plug-in hybrid
- Policy and compliance
- The framework of documents, controls and checks that ensure schemes and fleets comply with legal and regulatory requirements.Category: GeneralVariants: policies and compliance
- Pool car
- A vehicle owned or leased by the employer and used by multiple employees for business journeys.Category: FleetVariants: pool vehicle
- Public charging
- Using public charge points away from home or work to charge an electric vehicle.Category: EV & chargingVariants: on-route charging, en-route charging
- Salary sacrifice
- An arrangement where an employee gives up part of their gross salary in exchange for a non-cash benefit, such as the use of a car.Category: Salary sacrificeVariants: salary-sacrifice, EV salary sacrifice, car salary sacrifice, salary exchange
- Salary sacrifice calculator
- An interactive tool that estimates costs, savings and tax implications for an EV salary sacrifice scheme.Category: Tools & calculatorsVariants: salary-sacrifice calculator
- Scheme implementation
- The process of designing, launching and embedding a salary sacrifice or EV benefit scheme within an organisation.Category: Salary sacrificeVariants: scheme rollout, scheme launch
- Scope 1
- Direct greenhouse gas emissions from sources that are owned or controlled by the organisation, such as company vehicles.Category: GHG ProtocolVariants: Scope 1 emissions
- Scope 2
- Indirect greenhouse gas emissions from the generation of purchased electricity, steam, heating and cooling consumed by the organisation.Category: GHG ProtocolVariants: Scope 2 emissions
- Scope 3
- All other indirect greenhouse gas emissions that occur in an organisation's value chain, such as commuting and leased assets.Category: GHG ProtocolVariants: Scope 3 emissions
- Scope 3 Category 13
- Scope 3 emissions from downstream leased assets, including vehicles leased to customers or employees.Category: GHG ProtocolVariants: Scope 3 cat 13, downstream leased assets
- Scope 3 Category 7
- Scope 3 emissions from employee commuting under the GHG Protocol.Category: GHG ProtocolVariants: Scope 3 cat 7, employee commuting emissions
- Scope 3 commuting emissions
- Greenhouse gas emissions arising from employees travelling between home and their usual place of work.Category: GHG ProtocolVariants: commuting emissions
- Scope 3 reporting for Finance
- A perspective on Scope 3 emissions focused on financial materiality, disclosure and audit requirements.Category: GHG Protocol
- Scope 3 reporting for HR
- A perspective on Scope 3 emissions focused on HR levers such as policies, benefits and employee behaviour.Category: GHG Protocol
- SECR(SECR)
- Streamlined Energy and Carbon Reporting, a UK framework that requires certain companies to report their energy use and emissions.Category: GHG ProtocolVariants: Streamlined Energy and Carbon Reporting
- Short wheelbase(SWB)
- The Ferrari 250 GT SWB Berlinetta and later California Spider use a 2,400 mm wheelbase. The Italian term is passo corto.Category: Collector carsVariants: Passo corto
- Società Esercizio Fabbriche Automobili e Corse(SEFAC)
- Ferrari’s Italian corporate name from 1960. The 250 LM homologation form uses the make wording SEFAC-FERRARI.Category: Collector carsVariants: SEFAC-FERRARI, SEFAC S.p.A.
- Spider
- An open sports-car body style. Some sources spell it Spyder.Category: Collector carsVariants: Spyder
- Tax on car benefit
- The employee's Income Tax attributable to the taxable car benefit, based on the car benefit charge and the employee's Income Tax position.Category: Tax & payrollVariants: car benefit tax, company car tax
- Testa Rossa(TR)
- Italian for “red head”, a reference to the red cylinder-head covers on the engine of the Ferrari 250 Testa Rossa.Category: Collector carsVariants: 250 TR, 250 Testa Rossa
- Testa Rossa 1958 specification(TR58)
- A year-coded name used for a 1958 specification of the Ferrari 250 Testa Rossa. A chassis could have been built earlier and brought up to that specification.Category: Collector carsVariants: 250 TR58, TR 58
- Testa Rossa 1959 specification(TR59)
- A year-coded name for the 1959 development of the 250 Testa Rossa.Category: Collector carsVariants: 250 TR59, TR 59
- Testa Rossa 1960 independent-suspension specification(TRI60)
- I indicates independent rear suspension. The 60 identifies the 1960 specification of the 250 Testa Rossa.Category: Collector carsVariants: TRI/60, 250 TRI60
- Testa Rossa 1961 independent-suspension specification(TRI61)
- I indicates independent rear suspension. The 61 identifies the 1961 evolution of the 250 Testa Rossa with revised chassis and bodywork.Category: Collector carsVariants: TRI/61, TR61, TR 61, 250 TRI61
- Testa Rossa TR59/60 specification(TR59/60)
- A 1960 development applied to some 1959 Testa Rossa cars. A chassis history records when the updates were made.Category: Collector carsVariants: TR 59/60, 250 TR59/60
- Total cost of ownership
- The full cost of running a vehicle over a period, including funding, tax, maintenance, energy and other costs.Category: FleetVariants: TCO, whole-life cost
- Tour de France Automobile(TdF)
- The long-wheelbase 250 GT competition Berlinetta earned this name after its 1956 win in the Tour de France Automobile, a motor rally.Category: Collector carsVariants: Tour de France, TDF, 250 GT TdF
- Vehicle Excise Duty(VED)
- The UK vehicle tax charged on vehicles used or kept on public roads, with rates depending on the vehicle and registration date.Category: Tax & payrollVariants: VED, vehicle tax, road tax, car tax
- WLTP(WLTP)
- Worldwide Harmonised Light Vehicle Test Procedure, the standard for testing vehicle emissions and energy consumption.Category: EV & charging
- Workplace charging
- Charging an electric vehicle at an employer's premises using dedicated charge points.Category: EV & chargingVariants: workplace EV charging