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🚀 How to Beat The Budget with Salary Sacrifice in 2025 (and save thousands in the process!) It’s just over 15 years since I started Caboodle Technology! So I’m certainly no stranger to how the political pendulum can swing for or against salary sacrifice employee benefits at every UK Budget announcement. This time, it’s swung FOR. I firmly believe salary sacrifice is now more important than ever for businesses. Why? 💸 Businesses will save up to £150 (currently £138) per £1,000 of salary sacrificed from April 2025 📉 Employees can reduce their tax and NICs by up to £420 per £1,000 📊 With schemes like holiday trading, cycle to work, electric vehicle, and pension salary sacrifice, companies can manage their salary and total rewards costs even more effectively (while improving employee work-life balance in the process) ❄️ The income tax threshold freeze means more employees will move into higher tax brackets, meaning they’ll save even more with salary sacrifice. Maximising engagement and uptake with salary sacrifice schemes will be key to minimising the impact of increasing employer NIC in 2025. But what exactly is salary sacrifice and how does it work? Salary sacrifice allows employees to exchange a portion of their pre-tax salary for non-cash benefits, reducing their gross salary and, consequently, the NICs both you and your employees pay as well as income tax savings for employees. How can our team of employee benefit experts at Access People help your business navigate the upcoming increases in NIC’s? We will review your benefits and salary sacrifice schemes to ensure you are maximising the savings available to you. In addition, we will produce a bespoke return on investment for your business taking into consideration pay, roles, and the employee demographics within your business. So reach out today for a no-obligation review. #salarysacrifice #employeebenefits #ukbudget #hr #humanresources #employeeengagement

Salary sacrifice has always been a bit of a no-brainer for businesses. Employees get: ✅ Potentially big tax and NI savings ✅ More work-life balance options through schemes like annual leave buying ✅ Great benefits like electric cars, bikes etc. Businesses get: ✅ Potentially big NI and salary savings ✅ A healthier, happier workforce ✅ An improved EVP ✅ Greater control over total rewards costs And more often than not businesses make back (and more) what they invest in salary sacrifice through the NI savings they make. Some companies even use salary sacrifice to fund their entire rewards budget! The latest Budget amplifies the above advantages even further. Catherine summarises this very succinctly 👇 #salarysacrifice #employeebenefits #employeeengagement #hr #humanresources

Maximising engagement with salary sacrifice schemes will be key to mitigating rising employer NICs in 2025. 🚀 Want to know how your business can make the most of these changes? Reach out today for a no-obligation review from our team at Access People! #SalarySacrifice #EmployeeBenefits #UKBudget #HR #EmployeeEngagement #HumanResources

In just a few weeks, the latest UK Budget will be announced, potentially bringing new financial challenges for many. 💳 💼 Employers can support their people through these uncertain times by offering salary sacrifice schemes. And, in today’s competitive job market, where retaining top talent is a priority for HR teams, these schemes stand out as attractive, tax-efficient benefits that help companies stay ahead and keep their workforce engaged. 🔗 🤝 So, how do they work ➡ A salary sacrifice, or salary exchange, is a straightforward, tax-efficient arrangement where employees opt to exchange a portion of their gross salary in return for non-cash benefits. Find out much more here: https://lnkd.in/ePrPNNJb

Often, after receiving an offer letter, understanding the breakdown of your in-hand compensation can be challenging. While most of us have a rough idea of the various deductions and allowances, comprehending individual components can be slightly confusing. Understanding salary components is critical for financial planning. Read our latest blog to learn more about the salary structure, components, deductions, and their relevance. Explore how comprehending salary components can empower better financial management. https://lnkd.in/gz7n7TDu #salaries #ctc #paywheel #hrsoftware #payrollsoftware #hrms #hrm

Attention, all corporate newbies! Understanding salary components is not as difficult as you think. Our latest blog breaks down allowances and deductions, making it easy to save on taxes and plan your finances better. Check it out and comment your thoughts. #salarystructure #salarycomponents #deductions

⭐UK Budget 2024: What It Means for Salary Sacrifice & Employee Benefits ⭐ With the new UK budget, salary sacrifice benefits are in the spotlight, and the way organisations communicate benefits is becoming important. To keep employees informed and engaged, consider these steps: 📢 Clear Communication: Make it easy for employees to understand changes in benefit values and tax implications. 📊 Education: Show employees how to make the most of their benefits, even with new tax considerations. 💡 Highlight Value: Emphasise the broader advantages of your benefits package, beyond immediate savings. Adapting your approach can make all the difference in helping employees feel informed, valued, and secure. Read more on our insights and tips for navigating these changes: link in the comments Ps... If you're looking for ways to combine salary sacrifice benefits with a strong communication strategy feel free to reach out

From April 2025, the Employers’ NI rate will jump from 13.8% to 15%, with the threshold dropping significantly. Small businesses face tough choices, but strategies like salary sacrifice and timing bonus payouts can help. Read the full article here https://buff.ly/3AqrNFj #Budget2025 #EmployerTips #BusinessFinance

Are Salary Sacrifice Schemes the Norm? 🤔 - Salary sacrifice schemes can be a great benefit for employees, allowing them to exchange some of their gross salary for non-cash benefits. But do all employers offer them? Not quite. 🏢 - Many larger firms do, especially those in the public sector or big private companies. - However, smaller businesses might not have these schemes due to the administrative burden. - Research from Employee Benefits' 2024 report highlights that only around 40% of UK employers currently provide salary sacrifice options. This means many employees could be missing out on potential savings. 💰 - Have you ever considered salary sacrifice? It's a smart way to take home more value, not just more money. - For those new to the concept, salary sacrifice is when an employee agrees to give up part of their cash salary in exchange for non-cash benefits. These can include additional pension contributions, childcare vouchers, or even company cars. This trade-off can bring significant tax and National Insurance savings. - At Wavelength, we've seen professionals use salary sacrifice effectively to enhance their financial well-being. During a time when every penny counts, especially post-COVID, leveraging salary sacrifice could be the edge you need. It's a great way to get more from your hard-earned salary. - Remember, it's always a good idea to discuss this with a financial adviser before making any decisions. Have you tried salary sacrifice? What benefits have you found most useful? Share your experiences in the comments. 👇 #salarysacrifice #employeebenefits #taxsavings

Here's a quick breakdown of Salary components: Basic Salary: This is the core of your salary, usually a fixed percentage of your total compensation.(CTC) House Rent Allowance (HRA): It's percentage of your basic salary and can have tax benefits if you're renting. Provident Fund (PF): A long-term savings scheme where both you and your employer contribute. It's a great way to save for retirement. Incentives : An incentive based on your performance and company's profitability. It can vary widely and is usually paid quarterly or annually. Travel Allowances: These can include transportation, meal vouchers, or phone reimbursements, often provided to cover specific work-related expenses. What do you think? Have you faced challenges in understanding your salary structure? Let's decode this together. #SalaryBreakdown #HRInsights #Doodlezz Doodlezz Branding