All Tax-efficient benefits articles – Page 2
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ArticleXtrac launches electric vehicle salary sacrifice scheme
Credit: Just Jus / Shutterstock.comXtrac, a supplier of high-performance transmissions for motorsport and high-performance automotive applications, has expanded its range of employee benefits by introducing an electric vehicle salary sacrifice scheme.The Thatcham head-quartered business decided to implement the scheme to encourage its more than 440 permanent part- and full-time UK ...
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ArticlePitchup launches bikes-for-work scheme for staff
Pitchup, an online booking site for UK and Europe outdoor holidays, has introduced a tax-free bikes-for-work scheme for its employees.Provided by Gogeta, the new cycling platform will allow Pitchup’s more than 50 employees to apply for and buy bicycles such as road bikes, cargo and e-bikes, as well as cycling ...
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ArticleThe top 10 most-read articles between 29 September - 5 October 2023
The top 10 most-read articles on employeebenefits.co.uk between 29 September - 5 October 2023 were: Aon enhances menopause and fertility employee benefitsExclusive: Marks and Spencer introduces free staff physiotherapyNational living wage to rise to at least £11 per hour in 2024Employee Benefits Live welcomes delegates to ExCeL LondonStandard Chartered launches ...
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ArticleStandard Chartered launches electric and hybrid vehicle salary sacrifice scheme
Credit: MOZCO Mateusz Szymanski / Shutterstock.comBanking organisation Standard Chartered has introduced an electric and plug-in hybrid vehicle salary sacrifice scheme for all of its UK-based employees.Delivered in partnership with Tusker, the scheme provides the bank’s more than 2,500 members of staff with access to plug-in hybrid and electric vehicles that ...
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ArticleBuyer's guide to bikes-for-work schemes
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 schemes are usually offered via a salary sacrifice arrangement. It was introduced in the 1999 Finance Act to encourage employers to loan bicycles and cycling safety equipment ...
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Supplier articlePotential big gains ahead for ‘Save As You Earn’ share plan savers
Potential big gains ahead for ‘Save As You Earn’ share plan savers- How employees can reduce investment risk and avoid unnecessary taxMany Save As You Earn (SAYE) share plans are due to mature in the coming months and years, with some employees likely to have doubled, or even tripled the ...
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ArticleBeverley Hamblet-Bowes: How do you encourage employees to use green commuting options?
Sustainability is important for us at Nominet; we are committed to reducing the negative impact our business activities may have on the environment and lowering our carbon emissions through our carbon reduction plan to support our net-zero 2050 goal.As part of this, we provide a variety of options for green ...
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ArticleThe top 10 most-read articles between 23 - 29 June 2023
The top 10 most-read articles on www.employeebenefits.co.uk between 29 June 2023 were: Medtronic accredited as menopause-friendly employerAllianz introduces electric vehicle salary sacrifice schemeWho will win at the Employee Benefits Awards 2023?Exclusive: GI Group wins Grand Prix at Employee Benefits Awards 2023TotalEnergies staff accept 15.5% pay rise10% of employers introduced support ...
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ArticleAllianz introduces electric car salary sacrifice scheme
Insurance firm Allianz has introduced an electric car salary sacrifice scheme for its more than 8,000 UK employees.The scheme, which is provided by ElectriX, part of LV= General Insurance and CBVC Vehicle Management, is available to all employees. They can choose between electric and plug-in hybrid cars, while the cost ...
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AnalysisWhat does the modern company car scheme look like?
Modern company car schemes can offer a tax-efficient means to access new vehicles.A company car can be a useful attraction and retention tool for employers.Car salary sacrifice arrangements are popular with employees due to the low cost and access to low and zero-emission vehicles.The Covid-19 pandemic saw many employees work ...
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Case StudiesStephenson Harwood's electric company car scheme supports green goals
Stephenson Harwood offers its employees a car scheme that gives them the option to drive a brand new electric car of their choice through a salary sacrifice agreement, which, in turn, supports the law firm's commitment to reducing it's impact on the environment.The scheme, introduced in 2021, is open to ...
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Supplier articleThe benefits of salary sacrifice schemes.
We ask Jonathan Watts-Lay, Director, WEALTH at work, what he thinks are the main benefits of salary sacrifice schemes.Jonathan Watts-Lay, Director, WEALTH at work, comments, “One way to save money is by paying for things through your company payroll using your pre-tax salary, so you pay less income tax and ...
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ArticleBuyer's guide to flexible benefits technology
What is flexible benefits technology? Earlier in the evolution of employee benefits, organisations would provide a static set of rewards. Although these might change somewhat according to seniority or length of service, there was little in the way of flexibility or tailoring. These benefits would likely be communicated via letters ...
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ArticlePenderyn Distillery launches electric vehicle salary sacrifice scheme
Welsh whisky and spirits distillery Penderyn Distillery has introduced an electric vehicle salary sacrifice scheme for its workforce.The employer, which operates across two sites in the Brecon Beacons, appointed Edinburgh-based fleet management business Gofor to manage the scheme, designed to suit Penderyn’s specific objectives.Its goal was to make the switch ...
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Supplier articleSpring Budget 2023
The Chancellor of the Exchequer Jeremy Hunt, has today delivered the Spring Budget 2023. Please see our summary below:Pension allowancesThe Government will remove the Lifetime Allowance charge, before completely abolishing it in a future Finance Bill, and raise the Annual Allowance to £60,000 from April 2023.The minimum Tapered Annual Allowance ...
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Supplier articleEmployees must act fast to make the most of their tax allowances
With the end of tax year looming, employees must act fast to make the most of their £20,000 ISA allowance before the deadline of 5 April. After all, the exemption is a ‘use it or lose it’ allowance; in other words, you cannot carry forward unused allowances from previous tax ...
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ArticleForget Me Not introduces salary sacrifice pension scheme
Huddersfield-based children’s Hospice charity Forget Me Not has launched a salary sacrifice pension arrangement in order to look after the financial wellbeing of its 140 employees.Through a partnership with financial wellbeing platform Maji, the charity will pay the total pension contribution on behalf of each member of its workforce, and ...
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AnalysisBuyer’s guide to retail and discount voucher schemes
What are retail and discount voucher schemes?Employee discount voucher schemes come in various forms, all of which aim to provide staff with savings on a range of purchases, from everyday shops to big-ticket items and the latest technology. There are three main types of scheme, which might fall under different ...
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Supplier articleMini-budget update
The Chancellor of the Exchequer Kwasi Kwarteng, has today delivered the mini-budget report. Please see our summary below:Income tax and National InsuranceAs heavily rumoured, the planned cut in the basic rate of income tax from 20% to 19% has been brought forward to next tax year (April 2023) from April ...
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AnalysisAre pay rises the best staff retention tool?
Credit: GoldenShark2 / Shutterstock.comAn employer’s compensation policy needs to be fair, equitable and as transparent as possible.Regular pay increases can be useful because if these are timely and properly aligned with career opportunity and growth, they can help employees feel engaged and motivated.Employees look to prospective employers for clarity and ...