Tax & NI Savings FAQs
You can find out more information below regarding Tax & NI savings on your benefits.
Please note that for tax advice you should speak to a financial advisor.
Which benefits can I save Tax & NI on?
The following table highlights which benefits could help you save on Tax & NI.
| Benefit | Tax Savings | NI Savings |
| Annual Medical | Yes | Yes |
| Additional Annual Leave | Yes | Yes |
| Critical Illness | Yes | |
| Cycle to Work | Yes | Yes |
| Dental Insurance | Yes | |
| Giving to Charity | Yes | |
| Gym Membership | Yes | |
| Health Cash Plan | Yes | |
| Personal Accident Insurance | Yes | |
| Tastecard | ||
| Travel Insurance | Yes | |
| Pennies from Heaven |
What is Salary Sacrifice?
A salary sacrifice arrangement is an agreement to reduce an employee’s entitlement to cash pay, usually in return for a non-cash benefit.
Please be aware, any salary sacrifice arrangement could affect your reference salary for mortgages, or for state benefits. It is always advisable to understand the personal impact before proceeding with any arrangement.
A Salary Sacrifice arrangement cannot be entered if the your cash earning fall below the National Minimum Wage Rates.
What is a Tax Saving Benefit?
For Tax Savings, the monthly benefit will be deducted from earnings prior to Income Tax being calculated, therefore providing Tax relief on the amount.
What are National Insurance Savings?
For National Insurance Savings, the monthly benefit will be deducted from earnings prior to National Insurance contributions being calculated, therefore providing NIC relief on the amount.