Fair Care is an experienced operator of salary sacrifice schemes, working within existing legislation to deliver a wide range of tax-effective solutions. With an enviable reputation for high level customer service and seamless implementation, Fair Care currently manages schemes on behalf of over 1,000 clients.
What is Salary Sacrifice?
The idea behind salary sacrifice is quite simple. An employee agrees to give up part of their salary and, in return, the employer gives a non-cash benefit. The chosen benefit could be childcare vouchers, increased pension contributions or discounts off your next holiday, to name a few.
When an employee accepts a salary sacrifice, their overall pay is lower, so they pay less tax and National Insurance.
In addition, the employer will not have to pay their Employers’ National Insurance contributions on the part of salary that has been sacrificed.