All Tax-efficient benefits articles – Page 3
-
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 ...
-
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 ...
-
ArticleChris Ronald: Employees need support through the cost-of-living crisis
Everyone is feeling the pinch. Inflation is outstripping benefits and wages, and coupled with recent tax hikes, real disposable income has reached its lowest point in decades. The Bank of England predicts the current cost-of-living crisis to last until next year, with the potential to continue into 2024. This is ...
-
AnalysisAre car schemes still a valued employee benefit?
Need to know:Company car take-up has fallen in recent years as overall tax levels have risen.Electric cars benefit from lower rates and are now the focus for many employers.These are increasingly being offered via salary sacrifice rather than on a company-paid basis.For many years, the traditional company car scheme was ...
-
AnalysisCan employees remain engaged with retirement saving while costs of living rise?
Need to know:The cost-of-living crisis may result in employees disengaging with pension saving.But the chances are employer pension communications may not be up to scratch.Delivering clear messages at the appropriate time will pay dividends in securing financial wellbeing and HR operational efficiency.Retirement savings is a bit like cleaning out gutters ...
-
ArticleHSBC offers electric car leasing to 35,000 UK employees
Global banking organisation HSBC has launched a benefit enabling its 35,000 UK-based staff to lease a new all-electric vehicle through a salary sacrifice arrangement, with the option to buy at the end of the term.The business has implemented this benefit with a view to helping employees become more sustainable in ...
-
ArticleThe top 10 most-read articles between 13 May – 19 May 2022
The top 10 most-read stories on employeebenefits.co.uk between 13 May and 19 May 2022 were: Goldman Sachs increases holiday entitlement for all staffTesco releases workplace menopause guideTribunal rules fair dismissal for employee with Covid concernsThe changing face of flexible benefitsAverage total pay grows by 7% in early 2022Evona and Man ...
-
Article53% of employers offer an electric vehicle salary sacrifice scheme
Employee Benefits poll: More than half (53%) of employers currently offer their employees an electric vehicle (EV) salary sacrifice scheme.A fifth (21%) of respondents to an online survey conducted by Employee Benefits Magazine said they do not provide a scheme of this kind, while a further 26% said they were ...
-
ArticleThe top 10 most-read articles between 22 April – 27 April 2022
The top 10 most-read stories on employeebenefits.co.uk between 22 April and 27 April 2022 were: Unum UK introduces electric vehicle salary sacrifice schemeBest Benefits Communications shortlist unveiled for Employee Benefits Awards 2022Saga and Card Factory make Best Benefits to Support Employees Post-Pandemic shortlist at Employee Benefits Awards 202275% of employers ...
-
ArticleUnum UK introduces electric vehicle salary sacrifice scheme
Employee benefits provider Unum UK has launched an electric vehicle (EV) salary sacrifice scheme for its 800-plus permanent employees, to coincide with Earth Day (22 April).The initiative, backed by the Octopus Electric Dreams Car Scheme, allows staff to choose from a wide range of EV models with no up-front payment ...
-
AnalysisHow financial education can help employees make their money go further
Employers may want to consider giving employees practical help that includes debt management, budgeting and top tips for saving on everyday spending.Educating employees with basic skills like budgeting and saving for a deposit for a first home can also provide help in other areas of life.Other benefits like discounted shopping ...
-
ArticleStantec UK launches electric vehicle salary sacrifice scheme
Stantec UK, an international services provider to the design and consulting industry, has introduced a flexible salary sacrifice scheme to encourage employees to use electric and hybrid vehicles.The business, which has 20 offices in the UK and is a part of a global consultancy with 350 locations and 22,000 employees ...
-
Article29% of employers say rise in NI contributions will impact staff pay
More than a quarter of employers (29%) feel that next month’s increase in National Insurance (NI) contributions will have a direct impact on employees’ pay, according to research from Scottish Widows.Conducted by Opinium on behalf of the insurer with a sample size of 500 UK firms, the survey findings revealed ...
-
Case StudiesK2 drives sustainability through electric vehicle scheme
With sustainability a key focus for employee relocation firm K2 Corporate Mobility, electric vehicles were an obvious area to explore when the business sought to add to its benefits package.Andrew Hayward, chief financial officer, who oversaw the project, says: “We wanted to do something that would support our employees financially ...
-
OpinionProfessor Peter Wells: There’s never been a better time for employers to go electric
There has never been a better time for employers to encourage electric car ownership, or for employees to appreciate the benefits.There are major savings to be had for individuals, including with the plug-in car grant, benefit in kind, and salary sacrifice schemes, while several car manufacturers are offering to help ...
-
AnalysisHow to make the case for electric company car schemes
Need to know: Businesses are under pressure to cut carbon emissions, and employee vehicles are an obvious target. Salary sacrifice schemes mean this can save companies money, and make electric vehicles affordable for staff. Subscription models mean firms are no longer tied into long leases should ...
-
ArticleDF Capital introduces electric car salary sacrifice scheme
DF Capital has launched an electric vehicle salary sacrifice scheme for its 95 employees.The lending and personal savings bank said the initiative, run in partnership with Octopus Electric Vehicles, will make driving a new electric car more affordable for employees. Payments are made directly from gross salaries, creating savings on ...
-
ArticleRomulus offers staff free e-bike travel
Property business Romulus has formed a partnership with green micro-mobility firm HumanForest to provide its employees with e-bikes.The agreement began yesterday (24 January) with an initial trial period of three months that will allow all the London firm's 55 employees, occupiers and co-working members 20 minutes of free riding every ...
-
ArticleConfessions of a benefits manager: Candid hires a contractor
I’m beginning to think that Big Bad Boss is finally softening up a bit; he has approved getting another pair of hands to help with the annual compensation processes.This year is a bit different; we have changed the calendar so that pay planning and bonus planning will be done at ...
-
ArticleAviva launches electric vehicle salary sacrifice scheme
Insurance giant Aviva has introduced an electric vehicle salary sacrifice scheme for its 16,000 UK employees.Under the initiative, workers can give up part of their pre-tax income in return for the opportunity to drive a fully electric vehicle such as a Nissan Leaf or Mini Electric for a two or ...