Stevie Heafford, partner at accountancy firm HW Fisher said: ‘Many people will be feeling the pinch and may be looking to their employer to help. However, costs are also rising for employers, and they may not be able to afford to give pay rises at a sufficient level to make a significant difference to the take-home pay of their employees.’

There are three options that could potentially help employers and employees alike:

1.           Consider enterprise management incentives (EMI)