Salary Sacrifice Administration
A salary sacrifice happens when an employee gives up the right to receive part of the cash pay due under his or her contract of employment.
See HMRC guidelines on salary sacrifice schemes:
HMRC guidelines
This salary sacrifice is usually in return for some form of non-cash benefit, and often involves an additional financial benefit to the employee, i.e. savings of tax and NI on the value of the sacrificed salary.
The following salary sacrifice benefits are provided via our fully integrated web platform, salaryplus
See example demo site.
- childcareplus – electronic vouchers for payment of childcare
- GreenTravel2Work – annual bus pass for travel to/from the workplace
- cycle2work and cycleplus – bicycle and safety accessories for travel to/from the workplace
- holidayplus – additional annual leave spread over 12 monthly reductions
If you are an employer seeking a solution for your employees, put our ideas to work by calling Ross Masters, Business Development Executive on 0845 2728713 or contact us.