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Home Business Employee Benefits Flexible Benefits

Offering flexible benefits is an excellent, cost effective way to motivate your workforce. Whether you are looking to offer discounts on things like shopping and eating out or to save tax and national insurance for your employee’s by giving them the opportunity to make purchases using ‘salary sacrifice’, the increase in staff morale will be a huge benefit to your business.

The S-Tech Difference

S-Tech Difference

Financial Planning and Employee Benefit services are provided by S-Tech’s sister companies Alan Boswell & Company Ltd and Alan Boswell Employee Benefits Ltd.

Their specialist teams provide a wide range of clients with financial advice on investments, pensions and other key financial areas. Furthermore, their philosophy mirrors that of the Group; they work to maintain long-term trusted relationships between their clients and their high calibre, qualified independent financial advisers – all supported by teams of efficient and professional staff.

Flexible Benefits in detail

  • Flexible benefits – a percentage of you employees’ salaries can be used to purchase things like childcare, bikes, technology and gym membership. This is usually done using ‘salary sacrifice’ which is a way of saving money by having the payments taken from the employee’s salary before any tax or national insurance had been deducted. As a result, the employee (and employer) will only pay tax and national insurance on the lower salary.
  • Voluntary benefits – by providing discounts on shopping, technology products, restaurants and groceries, voluntary benefits are a way to engage with all of your workforce. You also have the option of adding other benefits such as reward services, allowing you to tailor the rewards package to the needs of your employees.

FAQs

  • We will take the time to meet with you and discuss the needs of your business so that we can find the most suitable benefits package for your employees.

  • Purchases made by employees using salary sacrifice will be made directly from their salary before tax or national insurance has been deducted. As a result, they will only pay tax and national insurance on the reduced salary, while still benefitting from the purchases they have made.

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