Salary Sacrifice
- Reducing Cost
Although salary sacrifice is not a new idea, it has grown in popularity in recent years as more employers take advantage of the tax and national insurance savings they can generate. In fact, our research indicates that the majority of UK companies with employee benefits in place have implemented salary sacrifice.
However, due to the complex administration and communication headaches, many employers experience low take up of salary sacrifice and do not get full value from their arrangements.
We make running salary sacrifice arrangements simple. Whether you are looking to improve the take up of your existing schemes or implement a new arrangement, we can help you:
- Remove the burden of salary sacrifice administration. Our software runs all the required calculations and ensures that you have an audit and can evidence employees’ acceptance of the amendment to their contractual terms and conditions;
- Select the most appropriate provider of childcare vouchers or bicycles. We deal with the leading suppliers in the market and will help you find the provider that really fits your organisational needs;
- Communicate salary sacrifice appropriately. We will help your employees make informed decisions when choosing to salary sacrifice so they fully understand the implications of taking this step;
- Implement a salary sacrifice scheme to ensure it is correctly set up to attract the tax and national insurance savings.
- Salary sacrifice schemes prove very popular with employees as it enables them to also make tax and national insurance savings on valuable lifestyle benefits.
