All Tax-efficient benefits articles – Page 13
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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 ...
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ArticleEXCLUSIVE: Atos launches car salary sacrifice scheme
EXCLUSIVE: Digital services provider Atos has introduced a car salary sacrifice scheme for its 10,000 employees.The scheme, which launched on 1 February and is provided by SG Fleet, was initially communicated to employees with a teaser campaign in the run-up to the launch using a range of posters, flyers and ...
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Supplier article
Every silver lining has a cloud…
In recent weeks there has been much media coverage of possible pension announcements by The Chancellor in the forthcoming March Budget. Our followers will be aware that a review of the tax relief system for pension savings was announced in the July 2015 Budget statement, and the outcome of this ...
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Supplier article
Only 9% of employers have reviewed Salary Sacrifice usage against new National Living Wage requirements
With the introduction of the National Living Wage less than three months away, a survey by Jelf Employee Benefits highlights that many employers need to take urgent action to ensure full compliance with this new law.The new requirement sets a higher minimum income level for employees aged over 25. This ...
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Article9% have reviewed salary sacrifice against national living wage compliance
Less than one in 10 (9%) of employer respondents have reviewed their use of salary sacrifice against the new national living wage requirements, according to research by Jelf Employee Benefits.Its survey of 180 employers also found that 39% of respondents are unaware that salary sacrifice arrangements could result in employers ...
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AnalysisFive predictions for employee benefits in 2016
Need to know:April 2015’s pension freedoms have formed a gap in the market for bespoke pensions.Increasing pressure to publish pay data may lead to more employers doing so voluntarily.Technology and staff-driven benefits are likely to increase in popularity.Through 2016 and beyond, employee benefits will evolve as staff wants and needs ...
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ArticleWolseley UK introduces car salary sacrifice scheme
Heating, plumbing and building materials organisation Wolseley UK has introduced a car salary sacrifice scheme for all of its 6,500 employees.The scheme, provided by Zenith, was launched in November 2015 and the first car was delivered in early December.To date, 29 orders have been placed by Wolseley UK employees, three ...
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ArticleEXCLUSIVE: Carlsberg UK to launch car salary sacrifice scheme
EXCLUSIVE: Carlsberg UK is to launch a car salary sacrifice scheme for its 1,600 employees in spring 2016.The organisation is introducing the new scheme, provided by Car Salary Exchange, to broaden its employee benefits offering.The salary sacrifice arrangement will sit alongside Carlsberg UK’s existing company car offering. It will be ...