What is Salary Sacrifice?

Salary Sacrifice Schemes allow employees to contribute a proportion of their gross pay towards non-cash benefits. We like to call it salary investment!

What Salary Sacrifice Schemes are out there?

Looking at some of the most popular examples, there are number of Salary Sacrifice Schemes available to employers to offer their employees such as:
* Electric Car Salary Sacrifice Scheme
* Cycle to Work Scheme
* Salary Sacrifice Purchasing Annual Leave Scheme

What is the benefit of a salary sacrifice scheme to your staff?

As Salary Sacrifice contributions are taken from gross pay, they are able to lower their National Insurance and income tax contributions while still receiving the full buying power of their gross pay.

How do I set up a salary sacrifice scheme for my employees?

If you do not have a salary sacrifice package in your business, the team at My Staff Shop are here to walk you through the process of setup and roll out across your organisation. If you currently have a scheme in place we can integrate your existing scheme or you can look at implementing some elements of the My Staff Shop scheme – please contact the team today to talk through your requirements.

What are the benefits?

There are many proven benefits to a company from a well ordered reward scheme:

Electric Car

Our EV Salary Sacrifice Scheme allows employees to purchase a new electric vehicle from a wide range of cars. This is the perfect benefit to provide optimum value to the employee at no additional cost to you as the employer.

Cycle to Work Scheme

Join the HMRC Cycle to Work Scheme as part of our benefits package and enable your employees to purchase a bike. They can spread the cost using salary sacrifice, through the government initiative to provide tax breaks to people looking to drive less and improve their health.

Holiday Purchase Scheme

Employees can buy additional leave, allowing them to enjoy the holiday of a lifetime, attend that unexpected event, or even take a sabbatical if your holiday policy allows. Employees pay for the additional leave from their gross salary over 12 months: spreading the cost and saving on tax and NI. You will save money on salary costs and NIC

Want to have all these benefits?

Our experience plays an important role in improving staff retention, improving the quality and volume of candidates applying for roles.

Services

Useful Links

News

How can we help?

Don’t use this form if you are an employee and have a query about your account, gift cards, orders or anything else. Please contact us here.