********* Well worth looking at this to cut your cost of transport ************
Weve given employers the chance to offer their staff up to 41 per cent savings on bus travel to work through the innovative Greentravel2work incentive scheme created by employee benefits provider P&MM.
The scheme enables organisations to offer their staff significant tax and National Insurance (NI) savings when purchasing an annual bus pass. It was developed in support of the Governments Green Travel Plan which has a target of increasing bus journeys in the UK by 12 per cent by 2012.
Employees at participating organisations make a salary sacrifice in the form of monthly deductions from their pay packet. This is administered through Greentravel2work. The amount paid by employees is exempt from income tax and NI contributions (up to 41 per cent on the cost of an annual bus pass), bringing fantastic costs savings and encouraging employees the leave the car at home and use the bus.
Look how much you could save
Under this scheme a Leicestershire County Council employee (assuming basic tax band) would pay around £288 (twelve monthly payments of £24) for an annual Arriva bus pass. This represents a saving of £132 thats more than 30 per cent. A higher rate taxpayer would pay approximately £248 for their pass a cost saving of £172 and a 41 per cent saving on the original price.
Employees of the following UK companies have already registered for the scheme:
Leicestershire County Council
Derby City Council
Crown Prosecution Service
More about P&MM
P&MM has been established for over 40 years and is the UKs premier performance improvement company. They have delivered award-winning solutions to some of the UKs biggest brands and organisations. P&MMs Employee Benefits division also offers Lifestyle, a range of voluntary benefits, and SalaryPlus, salary sacrifice flexible benefits.
Could my organisation do this too?
Employees of the participating companies or employers considering offering this benefit can find out more about the scheme by visiting http://www.salary-plus.co.uk/greentravel