Husky Finance has partnered with Swoop Funding to to enable firms to manage workplace pension, payroll and salary exchange from a single benefits platform.
Husky says that this collaboration should simplify pension enrolment and streamlines payroll processes, making it easier for businesses to introduce salary exchange options through a single, integrated platform.
It says that this partnership should enable far more SMEs to offer salary exchange to their workforce. This is now offered as standard particle amongst larger employer, but is often not available to smaller companies, despite the fact that it can lead to significant savings for north the employer and employee.
By utilising salary exchange, businesses can benefit from reduced national insurance contributions. This can be particularly advantageous for companies with outstanding loans, as the additional savings may enhance their financial health and loan affordability.
Husky specialises in automation of workplace pensions, payroll, and salary exchange management through a unified platform.It says this is designed to s to help businesses comply with auto-enrolment regulations. It points out that non-compliance can result in significant fines and potential legal action taken against directors. The Pensions Regulator issuing over 5,000 compliance notices each month.
Husky COO Olga Sala adds: “This partnership is crucial for raising awareness about Salary Exchange among SME owners and staff. Many are either unfamiliar with or have misconceptions about Salary Exchange, and those who do understand it often face challenges.
“These can include adjusting payroll systems, managing complex documentation, handling high implementation fees and communicating effectively with employees. Outdated systems may further complicate integration.
“Husky’s solution addresses these issues with a streamlined, app-based system that automates and simplifies the entire process. Interest and inquiries from SMEs are increasing significantly, and it is encouraging to see more UK companies taking full advantage of Salary Exchange as a result.”
Swoop Funding COO and co-founder Ciaran Burke says: “The Husky service is a perfect fit for us, enabling us to offer all our clients the level of support and assistance they require to take care of their workplace pensions, payroll obligations, as well as adding salary sacrifice for both the business and employees to benefit from.