Salary Sacrifice - what is it and why?
Salary Sacrifice schemes are a widely used method for both employees and employers to cut down on tax and National Insurance contributions. However, it's important to fully understand their effects before deciding if they are the right choice for your organisation.
This live webinar covers the fundamentals of salary sacrifice schemes, including what they are, typical arrangements, and common misconceptions. It also delves into Optional Remuneration Arrangements (OpRA), National Minimum Wage implications, and the impact on tax, NICs, student loans, and more.
1h15
£ 220
* discount for SD Worx customers (will be calculated in the next steps)Goal
By the end of this webinar, you:
- Have a deeper understanding of Salary Sacrifice arrangements.
- Have a deeper understanding of their advantages and potential pitfalls
- Know how to implement and manage such arrangements
- Grasp their impact on pensions, maternity rights, and other related areas
Target audience
- Payroll professionals
- HR professionals
- Reward and business professionals
Familiarity with the employer reward programme would be beneficial but not required.
Approach
This live, interactive webinar will feature an in-depth discussion followed by a Q&A session, allowing participants to engage directly with SD Worx experts.
Programme
- Introduction to Salary Sacrifice: what it is and what it isn't
- Common arrangements
- "We don’t operate salary sacrifice" – oh yes you do!
- Optional Remuneration Arrangements (OpRA)
- How Salary Sacrifice affects National Minimum Wage compliance
- The concept of "flipping" and its limitations
- Impacts on Tax, National Insurance, Student Loans, and AEOs and AES
- National pay
- P11D vs payrolling
- Class 1A National Insurance and the P11Db form
- Pension considerations within Salary Sacrifice
- Salary Sacrifice arrangements for cars
- Maternity rights within Salary Sacrifice schemes
- Exploring other potential issues
- Q&A session
Practical information
Start dates and location(s)
- Friday, 17 January 2025 11:00 until 12:30Online Teams meeting - click here to join
Price
£ 220 Prices excluding VAT.Info
No available dates?
No dates available, you can't make any of the dates, or the sessions are full? Register your interest below and we will contact you as soon as we have a date available! Registering your interest is free of charge and without any obligation.
Trainers
Simon Parsons
Director UK Compliance Strategies – major contributor to payroll expertise since 1984. Influential in the development of payroll software, is a key presence on HMRC consultative groups and committees. A fellow of the CIPP and one of the original MSc in Payroll Management, he is a regular author and speaker on reward and payroll. Also Honorary Chair of the BCS (the chartered institute of IT) Payroll Specialist Group and Chair of IreeN, the electronic exchange with government user network.
Benjamin Royal
Ben is a Compliance Specialist in the UK Knowledge Centre, joining SD Worx in 2021 after working in the compliance team of a large law firm. Having completed a law degree in 2017, Ben has focussed on the law surrounding payroll, HR and general employment.
