All Tax-efficient benefits articles – Page 11
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AnalysisHow to reduce company car scheme costs and administration
Need to know:A joined-up approach to fleet, travel and expenses can identify potential cost savings and areas for policy optimisation.Focusing on mobility and total journey cost can help determine the most appropriate means of travel.Data connectivity between employers and providers can enhance efficiency and help to control costs.Company car schemes ...
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AnalysisHow to engage staff with company car schemes
Need to know:Pre-launch communications can help build momentum around company car schemes.A comprehensive, sustained communications strategy can drive continued engagement with cars as a benefit.Tailored communications can ensure that all staff are aware of company car schemes and the value they can provide.Offering employees access to a car through their ...
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AnalysisHow to create a benefits strategy for an 'ageless' workforce
Need to know:Workplaces are becoming increasingly multi-generational.But this does not necessarily mean employee benefits should also become increasingly segmented and generation-specific.The answer is likely to lie more in segmentation and targeting of benefits communications than employee benefits themselves.Many workplaces are becoming ever more age-diverse as the working population ages, and ...
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ArticleCo-operative Food to increase new starter pay by 1.8%
The Co-operative Group is increasing pay for new starters in its food stores by 1.8%.The increase follows a two-year pay deal agreed in 2015 that will see 40,000 employees working in frontline positions in its food business receive a pay rise of 8.5% by October 2016.The increases take pay levels ...
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ArticleTravis Perkins launches car salary sacrifice scheme
Travis Perkins has introduced a car salary sacrifice scheme in order to enhance its employee benefits package.Since the scheme's launch in March 2016, over 180 orders have been received.The scheme, provided by Car Salary Exchange, gives employees access to a choice of 4,000 new cars. The cars ordered thus far ...
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ArticleBuyer's guide to car salary sacrifice schemes 2016
What are salary sacrifice company car schemes?Salary sacrifice car schemes have become a popular benefit, allowing employees to sacrifice a portion of their monthly salary in return for a new car.Employees benefit from having a safe, maintenance-free car, while employers go some way to demonstrating compliance with their duty-of-care requirements ...
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AnalysisBuyer’s guide to computer salary sacrifice schemes 2016
The factsWhat is a computer salary sacrifice scheme?This is an arrangement where an employer buys a computer from a computer scheme provider and then loans it to an employee, typically via a flexible or voluntary benefits scheme. The employee repays the cost through their gross pay.Where can employers get more ...
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ArticleHow the Budget 2016 will impact employee benefits
On 16 March, Chancellor George Osborne delivered his Budget 2016 speech. Below is a round-up of the key announcements with a bearing on employee benefits:The government plans to limit the range of benefits that can be offered under a salary sacrifice arrangement. This will not apply to pensions, childcare and ...
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ArticleGovernment confirms plans to limit salary sacrifice
Budget 2016: The government has confirmed it is considering limiting the range of benefits that attract relief on tax and national insurance contributions (NICs) when offered via salary sacrifice arrangements.However, details of its intentions, set out in Budget 2016 documentation, stated that pension contributions, childcare and health-related benefits, such as ...
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ArticleAberdeenshire and Aberdeen City Councils achieve 10% log-in for car salary sacrifice
Aberdeenshire and Aberdeen City Councils have achieved a 10% log-in rate to their dedicated driver site after revamping their car salary sacrifice scheme.The car salary sacrifice arrangement was revamped in June 2015 as part of wider changes to the local authorities’ employee benefits programme, which is provided by P&MM.Thus far, ...
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OpinionGeorge Bull: Salary sacrifice can benefit both employer and employee
Salary sacrifice arrangements are very simple, highly effective and potentially beneficial to both employee and employer. It is almost too good to be true.At the heart of a salary sacrifice arrangement is an agreement between an employer and an employee to change the terms of the employment contract to reduce ...
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Case StudiesPeel Ports uses salary sacrifice arrangements to support staff
Peel Ports Group offers its 1,000 employees several benefits via salary sacrifice to support them in both their work and personal lives. These include its contributions to its stakeholder pension scheme and childcare vouchers.Its most popular benefits offered on a tax-efficient basis are pension contributions, which 90% of its workforce ...
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AnalysisCan the government afford to get rid of salary sacrifice?
Need to know:Salary sacrifice arrangements are currently under review by the governmentSuch arrangements can be costly for government in terms of tax revenues but create valued tax savings for employers and staff.Organisations and workers could be demotivated if the government removed salary sacrifice arrangements all together.Find out more about all ...
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ArticleLearn whether car salary sacrifice risks have become a reality at Employee Benefits Connect
Those attending Employee Benefits Connect can gain insight into the potential risks around car salary sacrifice arrangements, and how to select risk mitigation approaches that best suit their organisation.In the session ‘Salary sacrifice for cars: evolving solutions and the truth about risks’, Claire Evans, head of fleet consultancy at Zenith, ...
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ArticleMeeting the challenge of the national living wage
Since Chancellor George Osborne announced the creation of a new national living wage in his 2015 Summer Budget, planning how to deal with the associated cost increases has challenged many organisations.When the national living wage comes into effect next month, the minimum hourly wage for employees aged over 25 will ...
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AnalysisInfographic: The use of salary sacrifice against the new national living wage
An infographic looking at how many organisations have considered the use of salary sacrifice against the new national living wage minimums (Source: Jelf Employee Benefits survey, conducted in November 2015).Read more about how the national living wage will impact reward strategies.
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ArticleKP Snacks to re-launch bikes-for-work scheme
KP Snacks is to re-launch its bikes-for-work scheme in April 2016.The food manufacturer is re-launching the benefit with the aim of boosting take up among its 1,800 employees.The scheme, provided by Cycle Solutions, was first introduced in July 2015.Some 6% of KP Snack's employees have taken up the benefit since ...
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Article
p50: Car salary sacrifice schemes – the truth about the risk
It is no surprise that salary sacrifice car schemes are on the rise. As a benefit that has the opportunity to be cost-neutral for the employer and cost effective for the employee, the popularity of these schemes is ever growing.One of the common detractors, however, is the perceived risk involved ...
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ArticleBuyer's guide to bikes-for-work schemes 2016
The facts: What are bikes-for-work schemes?Bikes-for-work schemes are tax-exempt arrangements that encourage employees to cycle to work to reduce environmental pollution and promote healthier lifestyles. The scheme enables employers to fund bikes and safety equipment, and loan these to employees.Where can employers find more information?Additional information can be found on ...
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ArticleLearn about car salary sacrifice schemes fit for the future at Employee Benefits Connect
Delegates that attend Employee Benefits Connect 2016 can gain insight into how to offer a car salary sacrifice scheme that is effective for employers and employees now and in the future.During a roundtable session entitled ‘How to provide a successful salary savings car scheme’, Alison Argall, business development director at ...