Salary Sacrifice

Salary Sacrifice

Although salary sacrifice is increasingly a key element in employee reward and compensation schemes, the full extent of the implications are often misunderstood or not recognised by the employer and the employee. Getting it wrong can prove costly.

This illuminating half day course explains the legal and payroll-related implications of the planning and introduction of salary sacrifice arrangements. It examines, with examples, why an arrangement may or may not be effective or successful, and what the potential impact is on state benefits, including statutory payments and state pension.

The course also covers the payroll processing, recording and reporting implications (e.g. payslip and pensionable earnings) and explores the range of benefits that typically feature in salary sacrifice arrangements.

Who Should Attend?

Those who have little or no knowledge of salary sacrifice and the implications involved (whether payroll, HR, finance or general management), and those with any current or possible involvement in the planning, design and implementation of salary sacrifice arrangements.

Course Content

· What is Salary Sacrifice?

· Why Choose Salary Sacrifice?

· Potential Impact on State Benefits

· Which Non-Cash Benefits?

· Examination of Effective and Ineffective Sacrifice Arrangements

· Implications for Tax and NICs

· Legislation and Case Law

· Payroll Implications

Course Aims

On completion delegates should be able to:

· Be aware of how salary sacrifice schemes work

· Understand the requirements of a successful salary sacrifice scheme