In vogue since the economic downturn, the ‘salary sacrifice scheme’ a provision that allows employees to receive benefits in kind in exchange for a lower salary, is now offered by more than half of British businesses. Ranging from cars, to computers, to childcare, employers offer a plethora of benefits that allow both parties to take advantage of tax–friendly conditions.
On January 28, the private hospital group Ramsay Health Care indicated that 3,000 of its staff were going to relinquish a part of their salaries in exchange for a ‘car package’ that included both the car and its servicing. “We have had a lot of interest in the scheme already and expect it to help us with our recruitment and retention strategy, as well as increase overall employee engagement,” explained Ramsay Health Care UK head of HR, Sarah Browne. This announcement proves yet again that...
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