Would you like a new car and an easier life? Life has enough worries without the added stress, and often financial burden of running and maintaining a car. The Newcastle upon Tyne Hospitals NHS Foundation Trust have teamed up with Tusker CPC Drive to bring you the Salary Sacrifice Car Scheme, an employee benefit which lets you drive away a brand new, fully-maintained and insured car. You’ll get a fully-inclusive motoring package for a fixed monthly amount, so all you really need to worry about is fuel and oil.Apply Read More
Do you need that little push to get fitter? Why not take adavantage of the Cycle to Work Scheme which gives you the chance to get a brand new bike & accessories through Salary Sacrifice. So whether it's cycling to work every day or getting out and about with the family, this could be the scheme for you.Apply Read More
Did you know you can save on your childcare costs for children from 0-16 year? Childcare vouchers are an employee benefit available to all eligible staff employed by Newcastle upon Tyne Hospitals NHS Foundation Trust who are parents or legal guardians of children using a range of registered childcare facilities.Apply Read More
Would you the like to purchase a computers, tablet or laptop through salary sacrifice? The Technology Scheme gives you the opportunity to sacrifice part of your salary and can save staff money through Tax and National Insurance savings with the payments spread over three years.Apply Read More
Salary sacrifice schemes provide staff with an excellent opportunity to gain a benefit whilst making substantial savings by agreeing to 'sacrifice' (or give up) a portion of salary due under your Contract of Employment in exchange for a service or benefit which has the same value as the cash sacrifice. When you join a salary sacrifice scheme you sign an agreement to vary your terms and conditions relating to pay. Savings for basic rate tax payers can be a high as 38% and for higher rate tax payers as much as 48%. Your savings are made because you pay less PAYE (income tax), National Insurance and Pension contributions.
A good example to provide is an employee earning £20,000 per annum joins the Bike 2 Work Scheme and orders a bike for £1,000. For the next 12 months, the employee agrees to sacrifice that £1,000 and therefore effectively earns £19,000 for the next twelve months and therefore pays less tax, NI and pension.Impact on pension