Shaping the future of employee benefits
Historically the traditional approach that companies took to offer health and fitness as an integrated element within employee benefits centered around simple discounted gym membership and occasionally employee assistance programmes.
Our understanding of the impacts on employees of physical, emotional, mental and financial pressures, has led to employers taking a more holistic approach to their provision of wellbeing programmes.
Employees now expect to benefit from a range of comprehensive wellbeing services, covering gym memberships, health tips and advice, health care cash plans, private medical insurance, employee assistance programmes, financial education, money advice and more…
As an employer, you can save on employer’s national insurance contributions with several salary sacrifice schemes. Reducing an employees salary through salary sacrifice will have the effect of lowering the NIC an employer pays.
Salary sacrifice schemes normally operate at a predefined saving range for an employee, allowing them to not only make an initial saving on a scheme, but reduce the tax and national insurance they will pay on the remainder of their salary.
The HMRC have recently completed a large review of salary sacrifice schemes that were running, and have now reduced applicable scheme down to pensions, Cycle to work, low emission cars and childcare vouchers.