Reduce the impact of NI increases through salary sacrifice.
Many of our clients operate in low margin environments where increasing labour costs are a real threat to profits and, therefore, survival. Some clients have talked to us about how they are using new salary sacrifice schemes to provide improved benefits AND lower employer/employee NI costs which will help to neutralise these cost increases from April 2025.
Qualifying schemes include:
- Payments into pension schemes
- Pensions advice provided by an employer
- Workplace nurseries
- Childcare vouchers
- Cycle to work
- Electric car leasing
‘Maji’ is a provider of advice in this area and while they have no connection to Cavendish Maine, we liked their article that explains the process that employers can follow to take advantage of this opportunity.