TaxBUSter
Introducing the bus salary sacrifice scheme
New government legislation has seen the introduction of the Bus Salary Sacrifice Scheme, which means that employees can enjoy savings of up to 41% off the cost of their annual bus travel pass and, in addition, the employer saves 12.8% on the cost of National Insurance contributions.
Salary Sacrifice are already popular schemes for childcare vouchers and bicycles and implementing a Bus Salary Sacrifice Scheme offers tangible benefits to both employers and employees:
- Employee saving of up to 41% of the cost of their annual ticket
- Employer saving typically 12.8% NIC’s on amount sacrificed
- Improve employee engagement
- Reduce carbon footprint
- Positive PR
- Can assist with planning approval
For more information on the scheme click here and please feel free to contact:
Russell Hutchinson, Commercial Business Manager - First Group
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