All news – Page 67
-
ArticleEmployee Benefits/Alphabet Fleet research 2015
The Employee Benefits/Alphabet Fleet research explores how company car schemes are operated among UK organisations and the attitudes of the employers that offer them. The research was carried out in May 2015.The majority of respondents (61%) work in organisations with more than 1,000 employees, across all industry sectors.21% provide a ...
-
ArticleHigh Court closes two firms over pension savings scam
The High Court has wound up two organisations for operating an £11.9 million misleading pensions liberation scheme.Clients were encouraged to use their pension savings to buy shares in Liverpool-based KJK Investments, which would then increase by 6% in value each year.The 209 clients were also told to obtain a loan ...
-
ArticleCompensation for discrimination claim not taxable
Compensation received by an employee to settle a discrimination claim is not taxable as earnings, a tribunal has ruled.A v The Commissioners for HMRC involved a dispute over whether a payment of £600,000 made under a compromise agreement should be taxed as “earnings” or whether it could be paid tax ...
-
ArticleCompliance developments impacting benefits in May
The Pensions Regulator (TPR) issued its first four escalated auto-enrolment penalties, which range from £50 to £10,000 a day depending on the severity of the breach.The Employment Appeal Tribunal (EAT) ruled that employers are not always required to make reasonable adjustments and create the ideal job for an employee returning ...
-
Article10 - Interactive - People Moves: CNA Insurance recruits Masterton
Roland Masterton has moved to CNA Insurance to take up the role of compensation and benefits specialist.His previous positions include compensation and benefits analyst at Mitsubishi UFJ Securities, group reward specialist at Aspen Re and international reward manager at The Body Shop.
-
Article10 - Interactive - People Moves: Baskeyfield moves to DWF
Law firm DWF has appointed Roland Baskeyfield reward manager (interim).Baskeyfield is responsible for ensuring that DWF’s reward strategy supports its wider business and HR strategies.He previously worked at The Co-operative Group as reward manager (interim), at Discovery Communications as international compensation and benefits manager (interim) and at BAE Systems as ...
-
Article?Redundancy near pensionable age could be age discrimination
The Employment Appeal Tribunal (EAT) has returned a case to a tribunal for a re-hearing to consider whether redundancy dismissal, where the timing meant an employer avoided significant pension costs, could amount to age discrimination. In the case of Sturmey v Weymouth and Portland Borough Council, it is being considered ...
-
ArticleQueen's Speech confirms legislation on tax and NI
The Queen has confirmed that legislation will be brought forward by government to ensure there are no rises on income tax, value-added tax (VAT) or national insurance for five years. The move, which was first announced in the Conservative Party’s election manifesto, was one of the measures announced in the ...
-
ArticleBritish Gas appeals holiday pay decision
The appeal comes from the employer and its law firm Eversheds after an employment tribunal ruling in March found that commission must be included when employers calculate holiday pay.In the case of Lock v British Gas, the tribunal ruled that the Working Time Regulations should be read to ensure commission ...
-
ArticleEmployee Benefits 2015 Fleet research closes today
The Employee Benefits/Alphabet Fleet research 2015 closes today, so it is the last chance to have your say.What is new in staff travel policies? And how does your organisation offer car benefits for employees? Why not tell us in this research, which is designed to help you benchmark your organisation’s ...
-
ArticleFleet research deadline extended
The Employee Benefits/Alphabet Fleet research 2015 deadline has been extended until Friday 29 May, so there is plenty of time to have your say.What is new in staff travel policies? And how does your organisation offer car benefits for employees? Why not tell us in this research, which is designed ...
-
Article
Developments impacting benefits in April
Exceptions meaning employers will not be not required to auto-enrol individuals who are leaving employment, staff who cancel membership of a pension scheme before automatic enrolment and those with tax-protected status for existing pension savings have been proposed under government draft legislationThe Employment Appeal Tribunal (EAT) ruled that type-two diabetes, ...
-
ArticleJust 1% plan to spend entire pension pot on luxuries
Just 1% of staff aged 50-75 plan to spend all their pension pot on luxuries, according to research by PricewaterhouseCoopers (PWC).The study, which surveyed 1,200 UK adults aged between 50 and 75 years, also found that just over a quarter (27%) of respondents intend to spend some of their retirement ...
-
ArticleLegislation and tax changes that took effect from 6 April 2015
On 6 April 2015, a number of changes to tax and legislation impacting employee benefits came into effect.The full list of changes are:Pensions:Individuals over the age of 55 now have access to their defined contribution (DC) pension savings in full. Employees can take their savings as cash, enter drawdown or ...
-
ArticleEAT rules controlled type 2 diabetes is not a disability
The Employment Appeal Tribunal (EAT) has ruled that type 2 diabetes which is controlled by diet and does not have a substantial adverse effect on an employee’s day-to-day activities does not amount to disability discrimination.In the case of Metroline Travel v Stoute, the claimant was a bus driver who suffered ...
-
ArticlePeople in the South West spend most time in retirement
People in the South West of England are likely to spend the most amount of time in retirement (18.7 years), compared to counterparts in other areas of the UK, according to research by Club Vita, part of Hymans Robertson.The study, which surveyed 1,526 UK adults who have not retired, also ...
-
ArticleTrivial benefits in kind deferred from 2015 Finance Bill
A proposals to introduce a statutory tax exemption for trivial benefits in kind (BIK) on spends up to £50 has been dropped from the Finance Bill 2015.With the deferral of the exemption, employers will need to continue to rely on imprecise guidance and informal agreements with HM Revenue and Customs ...
-
ArticleKey Budget changes to employee benefits
Chancellor George Osborne announced the last Budget before the general election on 18 March 2015.Here is a round up of all the key announcements impacting employee benefits:The personal tax allowance will be increased to £10,800 from April 2016, and to £11,000 from April 2017. The allowance, which is the amount ...
-
ArticlePensions lifetime allowance to reduce to £1m
Budget 2015: The government has announced that it will reduce the pensions lifetime allowance (LTA) limit to £1 million from 6 April 2016.It was also announced that from 2018, the limit will be index-linked and adjusted according to the level of inflation.The current lifetime allowance has stood at £1.25 million ...
-
ArticleTax exemption introduced for DB to DC transfer advice
Budget 2015: The government is introducing an income tax exemption for payments made for advice on transfers out of defined benefit (DB) schemes to defined contribution (DC) pension schemes.The new measure, announced as part of Chancellor George Osborne’s 2015 Budget, will apply to any employer that provides or pays for ...