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Blog

Salary sacrifice and minimum wage

Adrian Mooy - Tuesday, March 10, 2020
 
Minimum wage.

 

The government is cutting minimum wage red tape on salary sacrifice schemes. High profile cases, like Iceland’s Christmas savings club, saw employers penalised for diverting earnings to saving schemes for their employees which took their pay below the minimum wage. In future such schemes will be permitted, subject to conditions such as making good the shortfall.

 

Further changes.

 

There’s also good news regarding the methods for calculating hourly pay rates for workers for minimum wage purposes. The changes are expected to apply from 6 April 2020.

 

In future you won’t be fined for offering salary sacrifice and other schemes to workers where initially this causes their pay to fall below minimum wage rates. The methods for calculating hourly pay rates are also being changed from 6 April 2020.

 

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