Halfords has seen an increased demand for its B2B Employee Benefits Services, including Cycle2Work and Car Maintenance Salary Sacrifice, following the government’s announcement to increase National Insurance (NI).

The UK Government pressed ahead with the proposed 1.25% increase in NI from 6th April 2022. With the cost of living continuing to increase and employees feeling the pinch, HR and benefit professionals are turning to salary sacrifice schemes to enable their employees to save and to reduce employer NI contributions.

In 2019, the ‘Cycle to Work’ guidance was updated to make the scheme easier for employers to implement. This new guidance now allows employers to set their own scheme limits beyond the traditional £1,000 limit. This has also played a pivotal part in boosting demand for Cycle2Work, as more employees opt to save up to 47% on the cost of a new bike and safety accessories through the scheme.

Anthony Caie, Services and B2B Director at Halfords said: “Employee benefits such as Cycle2work and Car Maintenance can help employees who may be feeling a squeeze in their income as the cost of living rises. Our solutions can help your employees save on their everyday costs. As a result, we’ve seen more employers join our scheme than ever before and our team of experts are on hand to offer support through these challenging times.”

Under a salary sacrifice scheme, employees benefit from savings in tax and NI contributions, while employers have the opportunity to save thousands of pounds each year by reducing their NI contributions.

For more information:

Ruben Brown – Phone: 07483 922343 / Email: ruben.brown@halfords.co.uk

About Halfords for Business

Halfords for Business is a leading employee benefits and business solutions provider in cars and bikes. We offer motoring and cycling products and service packages valued by businesses and employees alike.

Whether employers are looking to encourage active travel and reward employees, take the stress out of car maintenance or reduce their carbon footprint, we are here to take employee benefits to the next level.