Salary Exchange (or Salary Sacrifice) involves your employees agreeing to take a lower salary in exchange for a benefit.
As salaries are reduced, National Insurance Contributions (NICs) payable by you and your employees are also lower.
The savings made can then offset other costs or be used to boost your employees’ pension benefits. For senior executives, we also offer Bonus Exchange which can be used in a similar fashion in order to save tax and NICs.
There are a number of key considerations relating to salary exchange which we can support you with:
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