Tax efficient benefits:

Tax-efficient benefits are those which HM Revenue and Customs has granted a tax-break, enabling employers to offer them free of at least some tax and/or national insurance. Tax-efficient benefits include childcare vouchers, bicycle loans, employer pension contributions, travel season tickets and health screening. The breaks vary according to the benefit. Some employers offer access via a salary sacrifice scheme, whereby staffs give up a portion of salary, which is put into these benefits. The employee saves tax and in some cases national insurance on that portion of the pay, whereas the employer may save national insurance..

Tax-efficient benefits are those which HM Revenue and Customs has granted a tax-break, enabling employers to offer them free of at least some tax and/or national insurance. Tax-efficient benefits include childcare vouchers, bicycle loans, employer pension contributions, travel season tickets and health screening. The breaks vary according to the benefit. Some employers offer access via a salary sacrifice scheme, whereby staffs give up a portion of salary, which is put into these benefits. The employee saves tax and in some cases national insurance on that portion of the pay, whereas the employer may save national insurance.