Salary sacrifice
schemes
An NI and tax saving solution tailored for SMEs –
save money for your business and your people
with salary sacrifice schemes.
Think NI savings. Think Maji.
The benefits of salary sacrifice schemes
Reduce NI and tax liability
Use our savings calculator to see how much your business can save.
Increase take-home pay for employees
Help employees keep more of what they earn through tax-efficient benefits
Attract and retain top talent
Stand out in the market with a benefits package that employees love.
Boost employee wellbeing
Reduce stress and empower your team with tools and education for financial security.
Types of salary sacrifice schemes
✔ Salary sacrifice schemes
Pension salary sacrifice
Childcare salary sacrifice
Cycle to work
Home and tech purchases
Electric cars
Calculate your savings
Use our NI savings calculator below to instantly estimate your tax savings by offering salary sacrifice benefits.
Schemes
Savings
Number of employees taking up benefit
Pension salary sacrifice
£0
Pension coaching
£0
0
Workplace nursery
£0
Electric car
£0
Cycle to work
£0
Total savings p/a
£0
Estimates are based on certain assumptions
Assumptions
- Assume pension contributions on full salary, with average employee contribution of 5%
- On average 40% of employees increase pension contributions from pension coaching
- UK average nursery fees of £15,600pa. On average 7% of employees have children at nursery
- Average savings per car leased are £1000 pa
- UK average spend on cycle equipment is £900
- NI rate of 15%
Boost your employee benefits package with Maji
When you sign up to Maji as an employer, you’ll not only reduce your NI bills but also support your employees with valuable tools and resources to manage their money better.
Here’s what you’ll get from Maji as part of our financial wellbeing platform:
✔ Money management tools for your employees
Financial education resources
Access to our academy with on-demand learning modules. Webinars and guides to empower employees financially
Financial planning and budgeting tools
Access to our budget tracking tool to identify weak points in your spending habits. Financial planning tools for future readiness
Pension coaching that boosts savings
Access to our pension coaching programme that helps employees build a secure future and increases your NI savings by 50%
Exclusive retail deals and discounts
Exclusive deals and discount offers from leading retail brands including grocery stores like Tesco, Asda and Sainsbury’s
✔ Access to money experts
Unlimited 1-1 financial coaching sessions
Expert guidance from certified financial coaches who help shape a financial plan
Free sessions with a mortgage advisor
Expert support to help employees navigate home buying
Free sessions with a financial advisor
Access to certified financial experts to support employees with financial uncertainties
Discounts on wills
Affordable estate planning solutions and will writing services
✔ All-in-one benefits hub
Access all your benefits in one place with ease. Add, edit, or manage your benefits seamlessly, whether they’re within or outside of the Maji offering.
How salary sacrifice works
Salary sacrifice schemes are a simple, tax-efficient way to save money for your business and your employees. Here’s how it works:
Employee agreement
Employees agree to give up a portion of their gross salary in exchange for a non-cash benefit, such as pension contributions, electric cars, or childcare
Tax and NI savings
The sacrificed portion of their salary reduces taxable income, lowering the employees’ National Insurance (NI) and income tax liabilities
Cost neutrality for employers
Employers save on NI contributions while offering high-value benefits, reducing the effect of increased NI costs
Immediate impact
Employees enjoy more take-home pay or valuable benefits, while employers reduce costs – creating a win-win situation
Salary sacrifice is quick to set up, fully compliant with UK regulations, and a proven way to save money while supporting your workforce.
Why Maji for salary sacrifice?
With Maji’s expertise in supporting SMEs with valuable financial wellbeing technology, this partnership delivers a solution that works for you, your employees, and your bottom line.
Think NI savings. Think Maji.
The easiest way to get started is to book a meeting with our team who can answer any questions or map out your potential savings depending on your requirements.
From there, we’ll send you a proposal to take to your business.
FAQs
Salary sacrifice is a voluntary arrangement where your employees agree to reduce their gross salary in exchange for a specific benefit that you provide as their employer.
Salary sacrifice benefits both your business and your employees:
For employees: It allows them to save on tax and National Insurance contributions while accessing valuable benefits like pension contributions, childcare, or company cars.
For employers: It reduces employer National Insurance contributions, making it a cost-effective way to enhance your benefits package.
While salary sacrifice schemes can be highly beneficial, there are a few considerations for employers and employees:
It reduces the employee’s gross income, which could affect eligibility for certain benefits like statutory sick pay or maternity/paternity pay.
For employers, it’s important to ensure the scheme complies with HMRC guidelines and is clearly communicated to employees.
Book a meeting to decide on your package and sign the agreement. From there, you’ll be able to setup a 1 hour implementation call, then we handle all the rest…
Implementing a salary sacrifice scheme involves a few straightforward steps. First, we’ll help you review your business structure and employee needs to determine the best benefits to offer. We’ll then support you in communicating these benefits to your team. Our team will assist with the HR, legal, culture and payroll implications, provide all necessary documentation, and ensure compliance with HMRC guidelines. We make the process seamless, so you can start offering valuable benefits with minimal hassle.
Yes! We offer a user-friendly app that allows employees to easily manage their salary sacrifice benefits. They can access their savings, review the benefits available to them, and make adjustments directly from their phones. The app also provides updates on their contributions and savings, making it easier than ever to stay on top of their benefits.
Absolutely! One of the key advantages of salary sacrifice is its flexibility. You can add a variety of benefits to your package, such as childcare, pension contributions, cycle-to-work schemes, and more. As your company grows or your employee needs change, we can work with you to tailor and expand your benefits offering to maximize employee satisfaction and retention.
