A salary sacrifice scheme
helps people save regularly and removes temptations to spend.
As part of a salary sacrifice scheme
, ultra-low emissions vehicles don't incur as much tax as the rest of the salary, and cost much less to run.
Vouchers are a tax-efficient way of paying for childcare and are usually supplied through a salary sacrifice scheme
. The Government is changing the system in 2017, though, so check to see how you'll be impacted.
These include assuming that certain payments can be counted as remuneration for minimum wage purposes, having a salary sacrifice scheme
that results in the worker sacrificing their pay below the minimum rate and not allocating payments to the correct reference period, to name but a few.
Hywel Dda Health Board in west Wales is one of several NHS bodies in the country offering a wide range of "home technology" goods to employees under a salary sacrifice scheme
Under the DTI's scheme, employees can purchase a computer for home use through what they term a salary sacrifice scheme
. This means an interest free loan payment is deducted from their pre-tax income each month, which effectively lowers the amount of tax they pay.
The services Voice Mobile provide range from tariff and bill analysis to a salary sacrifice scheme
that saves employees and employers money.
Said Ms Sykes: "The benefit of childcare vouchers to employees is that they can be purchased through a salary sacrifice scheme
. This effectively means that the employee Said Ms Sykes: "The benefit of childcare vouchers to employees is that they can be purchased through a salary sacrifice scheme
"HMRC is committed to support all staff through the childcare voucher scheme, which is a salary sacrifice scheme
and is the fairest and most sustainable way for HMRC to provide childcare support to all staff, regardless of their location."
The university has introduced an innovative salary sacrifice scheme
that allows all employees with more than six months service to surrender up to a fifth of their wages in return for a new car.
Employees can also take part in a salary sacrifice scheme
to buy bikes at a reduced cost.