A salary sacrifice scheme is an increasingly popular employee benefit scheme in the UK. Under this Government-backed scheme, employees agree to give up part of their salary in exchange for benefits such as pension contributions, childcare vouchers, and cycle-to-work schemes.
It’s a win-win, as employers can also benefit from lower National Insurance contributions.
Enter Pay Perk Plus, a brand-new salary sacrifice solution designed to empower small to medium-sized businesses across the UK.
Say goodbye to the complexity of managing these schemes, and welcome a streamlined, user-friendly experience, delivered by our team of payroll professionals.
Salary sacrifice schemes can impact your payroll, leaving your business at risk of fines, penalties and compliance errors.
We’ll deliver a tailored solution for your business that will protect your payroll and ensure compliance with all regulations.
Trust us to deliver your new salary sacrifice scheme through Pay Perk Plus.
Our salary sacrifice scheme is a completely free service for those who use our selected benefit providers.
We make this possible through our partnerships with leading benefit providers. Through these partnerships, we receive some commission, and this enables us to deliver our services to you without charging you any fees.
If you choose to opt for your own providers, we’ll share a bespoke quote for our services. We understand that every business is different, and our flexible options ensure you receive the most value from your new scheme.
Salary sacrifice schemes involve employees and employers agreeing to allocate a part of the salary towards non-cash benefits of their choice.
Employees can select benefits such as childcare vouchers, and the chosen amount is deducted from their salary before tax calculations.
Experience the advantages of Pay Perk Plus for your business. You’ll be supported by a team of dedicated payroll experts who will simplify the implementation of your salary sacrifice scheme.
Getting started is easy – connect with us now to explore the benefits, unlock financial rewards, and ensure a safe, secure and compliant payroll for your business.
Embrace the future of employee benefits with Pay Perk Plus!
The amount will vary depending on the specific benefits offered and your employees’ salary. However, employers can save thousands through salary sacrifice schemes by a reduction on National Insurance contributions.
On a payslip, salary sacrifice is shown in the reduced gross salary. This adjusted gross salary contributes to lower income tax and National Insurance contributions, maximising take-home pay for employees.
In a salary sacrifice scheme, it is only the employee that pays for this service, not the employer. The employee agrees to sacrifice a portion of their salary for specific non-cash benefits, and in return, the employer will experience reduced National Insurance contributions.
As there’s no cost to an employer, it’s a win-win situation for businesses, who can potentially save significant amounts of money in National Insurance contributions, without incurring extra costs. Although there will be some small administrative responsibilities as an employer, the overall savings far outweigh the additional efforts.
Get in touch today for a personalised quote on how we can support your new sacrifice scheme.