Caboodle Technology reposted this
🚀 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