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To help you choose the perfect package for your team, we’ve outlined what counts as a:
- statutory requirement
- standard benefit
- great benefit
Statutory
Market Standard
Great
Holidays
Statutory
Not applicable
20 days + 8 bank holidays (28 total)
Competitive
25 days + 8 bank holidays (33 total)
Above & Beyond
28 days + 8 bank holidays (36 total)
Buy/Sell Holiday
Flexible Working
Statutory
Not applicable
Competitive
1 Day/Week
Above & Beyond
2+ Days/Week
Work From Anywhere For 2 Weeks Per Annum
Sick Leave
Statutory
Not applicable
Statutory Sick Pay (£96.35) for 28 weeks
Competitive
10 days full pay per year + Statutory Sick Pay
Above & Beyond
30 days full pay per year + Statutory Sick Pay
Paternity Pay
Statutory
Not applicable
£151.97 or 90% of employee's average weekly earnings for 2 weeks
Competitive
2 weeks full pay
Above & Beyond
4 weeks+ full pay
Maternity Pay
Statutory
Not applicable
90% of your average weekly earnings (before tax) for the first 6 weeks
£151.97 or 90% of your average weekly earnings (whichever is lower) for the next 33 weeks
Competitive
12 weeks full pay including Statutory
Above & Beyond
6 months+ full pay including Statutory
Other
Statutory
Not applicable
Competitive
Referrals Schemes
Volunteering Days
Above & Beyond
Mental Health Leave
Personal Development Leave
Sabbaticals
Statutory
Market Standard
Great
Medical
Statutory
Not applicable
Competitive
Private Medical Insurance: No pre-existing conditions (Moratorium)
No dependants
Health Cash Plan: Level 1 Coverage
Above & Beyond
Private Medical Insurance: Pre-existing conditions covered(Medical History Disregarded)
Dependants Covered
Vision, Optical, Dental
Health Cash Plan: Level 4+ Coverage
Other Health
Statutory
Not applicable
Display Screen Equipment (DSE) Asessment
Competitive
Employee Assistance Programme Eyecare Vouchers
Above & Beyond
On Demand therapy and/or mental health services
Eye-care Vouchers
Health Assessment
Pension
Statutory
Not applicable
Employer Contribution: 3%
Employee Contribution: 5%
Competitive
Match employee contribution up to 5% employer contribution
Above & Beyond
Match employee contribution up to 10% employer contribution
Life Insurance
Statutory
Not applicable
Competitive
1x-4x Annual Salary
Above & Beyond
4x - 10x Annual Salary
Critical Illness
Statutory
Not applicable
Competitive
Above & Beyond
Income Protection
Statutory
Not applicable
Competitive
75% of income for 60 months
Above & Beyond
75% of income until Retirement
Statutory
Market Standard
Great
Wellbeing
Statutory
Not applicable
Competitive
Subsidised Gym Membership
£30 - £50 / month Wellbeing Budget
Above & Beyond
Fully Paid Gym Membership
Access to mediation & wellbeing apps
£50 - £250 / month wellbeing budget
Learning & Development
Statutory
Not applicable
Competitive
£300 - £1,000 per person per year
Above & Beyond
£1,000 - £3000+ per person per year
Working From Home
Statutory
Not applicable
Ergonomic Consultation (DSE Assessment)
Competitive
Home office budget of £500 - £1,000
Above & Beyond
Home office budget of £1,000+
Salary Sacrifice & Other
Statutory
Not applicable
Competitive
Cycle to Work
Season Ticket Loans
Employee Discounts
Charitable Giving
Above & Beyond
Cycle to Work
Season Ticket Loans
Employee Discounts
Charitable Giving
Late Night Taxis
Electric Car Leasing
Workplace Nursery
Debt Consolidation & Earned Wage Access
Financial Advice
Employee Stock Options Scheme
Food & Drink
Statutory
Not applicable
Competitive
Weekly Lunch
Monthly Socials / Happy Hours
Late night meals
In Office Snacks
Above & Beyond
Daily Lunch
Weekly Socials / Happy Hours
Late Night Meals
In Office Snacks
£50 - £100 / month meal budget
We’ve narrowed down how employee benefits affect:
- Tax reporting
- Employer tax
- Employee tax
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Tax Reporting
Employer Tax
Employee Tax
Holidays
Statutory
Not applicable
Taxed as Income
Employer Tax
Employer National Insurance
Employee Tax
Income Tax (PAYE)
Employee National Insurance
Sick Leave
Statutory
Not applicable
Taxed as Income
Employers can claim SSP (Statutory Sick Pay) from HMRC
Employer Tax
Employer National Insurance
Employee Tax
Income Tax (PAYE)
Employee National Insurance
Paternity Pay
Statutory
Not applicable
Taxed as Income
Employers can claim SPP(Statutory Paternity Pay) from HMRC
Employer Tax
Employer National Insurance
Employee Tax
Income Tax (PAYE)
Employee National Insurance
Maternity Pay
Statutory
Not applicable
Taxed as Income
Employers can claim SMP (Statutory Maternity Pay) from HMRC
Employer Tax
Employer National Insurance
Employee Tax
Income Tax (PAYE)
Employee National Insurance
Tax Reporting
Employer Tax
Employee Tax
Medical
Statutory
Employer Tax
Class 1A NIC on benefits provided must be paid and P11D(b) submitted.
Corporation Tax Savings
Employee Tax
Taxable via PAYE
Pension
Statutory
Employer Tax
No Tax
NIC savings if via Salary Sacrifice
Employee Tax
No Tax
NIC savings if via Salary Sacrifice
Life Insurance
Statutory
No BIK
Employer Tax
No Tax
Corporation Tax Savings
Employee Tax
No Tax
Critical Illness
Statutory
The premiums are a benefit in kind, however the payout is not taxable.
Employer Tax
No Tax
Corporation Tax Savings
Employee Tax
Taxable via PAYE
Income Protection
Statutory
Premiums are a Tax free benefit to the employee
Premiums are tax deductible for the employer
Employer Tax
No Tax
Corporation Tax Savings
Employee Tax
No Tax
Tax Reporting
Employer Tax
Employee Tax
Learning & Development
Statutory
Normal business expense as long as the L&D is going to improve the employees work
Employer Tax
Tax Free
Corporate Tax Relief
Employee Tax
Tax Free
Working From Home
Statutory
Employer Tax
Tax Free
Corporate Tax Relief
Employee Tax
Tax Free
Food & Drink
Statutory
You don’t have to report anything to HM Revenue and Customs (HMRC) or pay tax and National Insurance if you offer all your employees:
free or subsidised meals of a reasonable value at a workplace canteen. OR
vouchers that cover the cost of buying these meals
Employer Tax
Tax Free
Corporate Tax Relief
Employee Tax
Tax Free