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Employers make initial investments into necessary equipment on the behalf of employees, and a sum is then deducted from employees’ grosspay. If the employee leaves their employment, the remaining amount is deducted from their net pay and the bike becomes liable for tax. On average, employers can save 13.8%
The payments can be made either through a salary sacrifice arrangement from grosspay or from a net pay arrangement. BHN Extras employee research, published in March 2023, found that employees require benefits that help their money go further.
Ensuring any outsourced payroll provider has the right processes in place is essential when selecting a company to work with. G: Grosspay The total amount of pay an individual receives each month, before National Insurance, tax and other deductions such as pension payments are taken off.
times earnings and the average rental property costs around 32% of grosspay. The next highest-paying city is London, with an average salary of £39,391, followed by Cambridge, Milton Keynes, and Oxford. The city is less competitive in terms of housing affordability though, as typical homes cost an average of 9.1
According to Network Homes, the chosen pay increase, which applies to the 2023-24 financial year, resulted in 80% of Network Homes’ employees receiving a higher increase than was available with the other potential options.
As it currently stands, the latest figures from the Office for National Statistics’ Labour Force Survey continue to show a sizable pay gap between what the average man working full-time in the UK earns, compared to the average woman (it’ll be three more months until the ONS’ official annual gender pay gap statistical bulletin is released).
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