ABC Ltd decided they would provide a tax-free lump sum payment to their employees. They chose a 4 times multiple of salary, with an overall benefit of £955,408 to its 12 employees, which cost the business an annual premium of £504.46.
benefits to the employer:
The registered schemes premiums are usually allowable as a business expense, thereby reducing the net cost to the employer through corporation tax relief.
benefits to the employees:
Additional free services, which include: