The team at Grass Roots, who are behind the UK’s cycle-to-work employee benefit scheme ‘Cyclescheme’, introduced another scheme to their dynamic portfolio in January 2016. Say hello to ‘Phonescheme’.
This new employee benefit is a salary sacrifice scheme that allows employees to choose from a range of unlocked smartphones and save up to 42% on Income Tax and National Insurance. The employer pays for the phone and then over a 12-month period recovers the cost of the phone from the employee’s gross salary. Also, by going with the scheme, the employer saves up to 13.8% in National Insurance Contributions.
Any provider or plan is acceptable so employees can continue to use their existing SIM cards, opt from a range of SIM only plans or choose pay-as-you-go. At the end of the 12 month-period employees are given the chance to return the phone, buy the phone outright (at only 25% of the phone’s original cost) or extend the use of the scheme for another 12 months (paying 10% of the phone’s original cost).
For employees to take advantage of the benefits listed above their employer must have already signed up to Phonescheme. To find out more information about the scheme go to https://
Have a great weekend