Salary sacrifice schemes are a cornerstone of modern, tax-efficient employee benefits. They offer tangible National Insurance savings for both your business and your employees, making benefits like pension contributions and workplace nursery fees significantly more affordable. When your trusted accountant offers to “handle the process” for a lower fee than a specialist financial wellbeing provider, […]
As a caring leader of a small company, you may be wondering how to set up benefits for your employees without smashing the budget. Employee benefits can help you recruit and retain talented employees, as well as support their wellbeing and increase productivity. But, when every penny counts, it can feel difficult to spend on […]
You might have heard of salary sacrifice (or its less unsettling name, salary exchange) before; you might even have been lucky enough to have this arrangement for your workplace pension, electric vehicle or a cycle to work scheme in a previous job. When it comes to making contributions to your employees’ pensions, it’s the most […]
As most parents will tell you, sorting out childcare can be a huge headache. There are so many things to think about if you want your child to go to a nursery, including the cost. That’s why many employers are now introducing workplace nursery schemes, a way to help employees reduce the financial burden of […]
Switching to a salary sacrifice pension arrangement for your employees makes a lot of sense. After all, both your company and your employee can save money with this scheme through reduced NI payments. But, to maximise your employer savings and make sure employees are getting the most out of it, you’ll want to make sure […]
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 […]
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 […]
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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).
