Salary Sacrifice in The United Kingdom
In the United Kingdom, employee benefits commonly included in salary sacrifice arrangements are pension contributions, childcare vouchers, annual leave, etc. If correctly structured, the arrangement can benefit both parties as it saves them both NI contributions as well as save the employee income tax.
Salary sacrifice can be extended to any range of benefits and in 2008 is becoming increasingly popular in the public sector as well as for transport related benefits e.g. Cycles, Bus Travel and Low CO2 emission cars. Salary sacrifice is also commonly used to fund the introduction of Flexible Benefit Plans in the UK.
Read more about this topic: Salary Packaging
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—Tom Reich, U.S. baseball agent. New York Times, p. 16B (August 11, 1994)
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—Virginia Woolf (1882–1941)
“The United States is a republic, and a republic is a state in which the people are the boss. That means us. And if the big shots in Washington don’t do like we vote, we don’t vote for them, by golly, no more.”
—Willis Goldbeck (1900–1979)
“How we dwelt in two worlds
the daughters and the mothers
in the kingdom of the sons.”
—Adrienne Rich (b. 1929)