Salary sacrifice schemes aren’t just employee perks. They’re powerful cost-saving tools for employers too. But they’re not all made equal. While there are many options out there, only a select few offer meaningful National Insurance savings for both employers and employees. These schemes not only improve financial wellbeing across your workforce, but they also deliver […]
Written in partnership with Hive HR Solutions. As an employer, providing benefits to your employees is a great way to support them, but it also comes with certain tax obligations. One key requirement in the UK is the P11D form, which reports benefits and expenses provided to employees outside of their regular salary. Here’s everything […]
What if you could pay less tax and take home more money – without changing your salary? That’s the power of salary sacrifice. Think of the HMRC salary exchange initiative – also known as salary sacrifice – as a clever strategy where everyone wins. You agree to exchange some of your salary for benefits you […]
HMRC salary sacrifice schemes are becoming increasingly invaluable for companies wanting to optimise their employee benefit packages while also managing costs. At their core, salary sacrifice schemes – also known as a salary exchange – offer a way for employers and employees to save money. They’re designed to help everyone make tax-efficient benefit choices that […]
Time strapped? Key takeaways from the blog: From April 2025, employer NI contributions rise to 15% (from 13.8%) with a new £5,000 threshold The average business faces increased costs of around £900 per employee annually Implementing salary sacrifice through Maji can reduce these increased NI costs by 30-60% Quick implementation means you can start saving […]
As the Chancellor announced an increase in National Insurance (NI) rates from 13.8% to 15% on 30 October 2024, many employers are facing higher costs on the horizon. But there’s a silver lining: salary sacrifice schemes can offer significant savings opportunities for your business, helping to offset these new expenses and keep costs neutral. Here’s […]
As the Chancellor announced an increase in National Insurance (NI) rates from 13.8% to 15% on 30 October 2024, many employers are facing higher costs on the horizon. But there’s a silver lining: salary sacrifice schemes can offer significant savings opportunities for your business, helping to offset these new expenses and keep costs neutral. If […]
We are fast approaching the annual celebration of UK Savings Week and UK Pension Awareness Day. It would be remiss of us not to acknowledge the current financial landscape; where many of your employees are struggling to save due to rising costs of living. Yet, the importance of saving for retirement through pension contributions remains […]
Childcare costs are affecting recruitment and retention Research shows the average cost of sending one child to nursery in the UK is almost £15,000 pa. The Standard recently reported that for those on average earnings, the UK is the third most expensive country for childcare costs in the world. For those earning less than the […]
At Maji, we’re proud to support forward-thinking companies in supporting their employees with financial wellbeing. We also help them make a tangible financial difference to their companies and their employees’ payslips through salary sacrifice (otherwise known as salary exchange). We’d like to highlight two case studies from the tech sector that showcase the benefits of […]
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Maji is the trading style of Maji Financial Wellbeing Ltd, a company registered in England and Wales (Registration no. 11937232). Maji Financial Wellbeing Ltd is registered with the Financial Conduct Authority (Registration no 969225) as the PSD agent of Bud Financial Ltd (Registration no 793327).
