BENEFIT PACKAGES

CHILDCARE VOUCHERS

Helping working parents meet the costs of registered childcare is simple, effective and ethical with a childcare voucher solution for your organisation. Add value to your employees and organisation with childcare vouchers.

The reason a growing number of organisations implementing childcare voucher schemes is that they financially benefit as well as the employee. With working parents now comprising over 30% of the UK workforce, childcare is a significant concern to employers as well as employees.

Parents paying for childcare with SPHERE incentive Childcare Vouchers will save both TAX & NI contributions on the value of vouchers. The savings can be significant for some parents, savings will exceed £1000 per year (depending on personal circumstances).

How's it work
The most popular Childcare Vouchers are administered through a Salary Sacrifice Arrangement (click for details), whereby an employee agrees to a reduction to their salary in return for a equivalent value of childcare vouchers, which will be exempt from TAX and National Insurance (up to a maximum of £55 per week or £243 per month). Employers can also offer childcare vouchers in addition to salary, or as part of a Flexible Benefit package where the employer contributes, part pays or fully pays (click for details).

We design our service to meet the specific needs of each organisation we work with.
Ensuring employees awareness and understanding of incentive schemes is crucial to its success. Our experienced team provide a comprehensive and user-friendly pack which is tailored to each client.

What next?
Simply contact us and register your interest. We'll contact your business or employer put the ball in motion.

Research Points:
Childcare vouchers enhance the overall benefits package, which has been proven to improve employee retention and dramatically increase return to work after maternity leave.

Losing working parents to employers who are seen as more supportive and family friendly is an increasing concern, particularly as the number of businesses implementing childcare benefits continues to grow.

There are also many parents who decide to stay at home with their children because paying soaring for childcare costs simply doesn't make working a viable option.

Child care vouchers last for up to 5 years, and can be used to pay any form of registered or approved childcare for children up to 15 (or 16 if they are disabled). They will benefit anyone who regularly uses a nursery, creche, after-school club, breakfast club, childminder or holiday play scheme. By helping parents and careers with childcare, SPHERE incentives Childcare Vouchers take away one of the obstacles that often prevents parents from working, or returning to work because they cannot afford childcare.

The average cost of a full time nursery place for a 2 year old child in 2008 was £159 per week – a 5% rise on year before. Even having a child minder, which is often seen as a lower cost option, can be beyond some parents' means; the typical cost of a full time childminder in 2008 was over £140 per week.

Parents with children at school may also incur high childcare costs; the average cost, on a weekly basis for out of school clubs is about £43 for 15hours, and a week at a holiday play scheme can cost over £100.

BIKE TO WORK

TAX FREE bikes for work through independent bike shops.

A cycle to work scheme is a great incentive for employees, and companies to save money. Every bike processed through the scheme means National Insurance saving for employer's and both TAX and National Insurance savings for employees - everybody wins.

How's it work?
Your employer has to be willing to run the scheme before you can get your bike. The scheme can only run through what is known as a Salary Sacrifice Agreement (click for details).

With a salary sacrifice you pay back the loan on your bike, accessories and safety equipment from gross rather than net pay (usually 12 months), allowing you to benefit from income tax and NI relief.
Typical savings are between 30% and 50%, but the actual amount you pay depends on your personal tax band, and the way your company runs the scheme.

The bike and goods remain the property of your employer until the period finishes, unless your employer uses finance; in this case the finance company will own the bikes during the hire period. At the end of the hire period you may be given the opportunity to buy the bike for a fair market value payment.

In our experience the market shows fair market values to be around 5% of the original voucher value plus VAT, but each bike is assessed separately. The fair market value cannot be stated before or during the scheme as this could be considered a benefit in kind as hire-purchase does not warrant any tax-relief.

You can use the bike however you like; a bike purchased under bike to work schemes should be used for work journeys at least 50% of the time. You don't have to cycle to work for a specified number of days throughout the year and you don't have to record your trips or mileage. You may not claim expenses for business trips made using the bike until the end of the salary sacrifice period.

What next?
Simply contact us and register your interest. We'll contact your business or employer put the ball in motion.

Frequently Asked Questions

LEISURE & HEALTH CLUB MEMBERSHIP

Creating a healthier lifestyle for colleagues can lead to increased motivation, productivity and ultimately more profitable workforce. In Surveys this option has been the 2nd most popular amongst employees.

How's it work?
Your employer has to be willing to run the scheme before we can develop a solution. The scheme can be run as either Corporate Discount, Salary Sacrifice Agreement, or Flexible Benefit (click for details).

At SPHERE incentives our dedicated, experienced team would handle this option to give a hassle free solution.

What Next?
Due to the complexities of this service further details would depend on the leisure services available, geographical areas of employees and employer's. We tailor our services and this option would require a discussion. Simply contact us and register your interest.

HEALTH COVER

A traditional and popular choice amongst organisation and employees.

How's it work?
Your employer has to be willing to run the scheme before we can develop a solution. The scheme can be run as either Salary Sacrifice Agreement, or Flexible Benefit (click for details).

At SPHERE incentives our dedicated, experienced team would handle this option to give a hassle free solution.

What Next?
Due to the complexities of this service further details would depend on the employer's requirements. We tailor our services and this option would require a discussion. Simply contact us and register your interest.

PENSION PACKAGES

Help your employees plan for the future.

Your employer has to be willing to run the scheme before we can develop a solution. The scheme can be run as either Salary Sacrifice Agreement, or Flexible Benefit (click for details).

At SPHERE incentives our dedicated, experienced team would handle this option to give a hassle free solution.

What Next?
Due to the complexities of this service further details would depend on the employer's requirements. We tailor our services and this option would require a discussion. Simply contact us and register your interest.

Business GIFTS

SPHERE have an innovative solution to rewards employees all year round and not just at the christmas party, once a year.

Your employer has to be willing to run the scheme before we can develop a solution.

At SPHERE incentives our dedicated, experienced team would handle this option to give a hassle free solution.

What Next?
Due to the complexities of this service further details would depend on the employer's requirements. We tailor our services and this option would require a discussion. Simply contact us and register your interest.

Benefit Schemes and Packages through a Salary Sacrifice enables National Insurance savings for Employers and both TAX and National Insurance savings to Employees. They are now a very popular solution to increasing moral, employee loyalty, adding value and savings to businesses.

Contact us and register your interest to find out what tailored Employee Incentive Packages we can set up for you.