All Tax-efficient benefits articles – Page 5
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Case StudiesShrewsbury and Telford Hospital supports staff with bike scheme
The Shrewsbury and Telford Hospital NHS Trust is the main provider of acute hospital services for Shropshire, Telford and Wrekin, and mid Wales, and employs 6,500 members of staff.The trust launched its bikes-for-work scheme in 2012 in partnership with Vivup, providing the benefit to employees via an enrolment window option ...
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ArticleBelfast NHS workers get emergency childcare tax bill
A total of 130 NHS workers have reportedly received an increased tax bill due to their emergency childcare during the Covid-19 (Coronavirus) pandemic.According to staff employed by the Belfast Health and Social Care Trust, they were offered free emergency childcare as they could not work from home when schools and ...
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ArticleNHS Fleet Solutions to offer employees electric cars
NHS Fleet Solutions has ordered 500 electric Nissan Leafs for its salary sacrifice scheme, which will be available to health workers and other public sector staff.The business, which is operated by Northumbria Healthcare NHS Foundation Trust, has provided more than 75,000 vehicles for the NHS and other public sector organisations ...
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Article50% use salary sacrifice benefits for pensions
Research conducted by Workplace Pensions Direct (WPD) and YouGov has found that only half of British businesses are using the salary sacrifice benefits available for workplace pensions.According to WPD, this means that more than 15 million people could be missing out on the ability to contribute an average extra £204 ...
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AnalysisTop tips on implementing electric company car schemes
Need to know: Electric vehicles are now a realistic option for company fleets, either as an employee benefit or through salary sacrifice arrangements. Favourable benefit-in-kind rates are making this more attractive compared to petrol or diesel options. But some concerns remain around charging infrastructure and battery ...
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Article25% would increase pension contributions if they understood tax relief
One in four people would be more likely to increase pension contributions if they understood tax relief better, according to new research.A survey of 2,000 UK adults carried out by Opinium on behalf of insurer Royal London found that 15% of respondents fully understood how tax relief on pension contributions ...
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ArticleShare schemes found to boost wealth by up to £10,000
Staff who take advantage of share schemes could be better off to the tune of £10,000 compared to those who do not, according to new research.Data from the Social Market Foundation (SMF) revealed there is a distinct ‘wealth benefit’ of participating in share ownership schemes – and yet less than ...
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ArticleWomen have 39% smaller pension pots
New research has revealed the pensions gender gap is more than double the difference between men and women’s average earnings, with women having significantly smaller pension pots.Profile Pensions' analysis of 20,000 customers discovered the gap is such that it means men can expect to retire on an average of £21,800 ...
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ArticleGroup protection usage hit by data privacy fears
New research has suggested that slower-than-anticipated uptake of some group protection benefits may be due to data privacy fears.According to a study by Legal and General, 19% of staff questioned who had access to employee assistance programmes (EAPs) revealed that privacy concerns were a barrier to usage – a figure ...
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ArticleRoyal Mail workers set to receive share dividend
Tens of thousands of Royal Mail workers are set to receive a one-off 10p per share dividend after the delivery company announced adjusted operating profits rising to about £700 million in the year ending March 2021.The dividend – more than double what it was just two years ago and the ...
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ArticleOdey Asset Management loses incentives tax case
Hedge fund firm Odey Asset Management has lost its legal battle with HMRC in which it argued executives who were part of a partnership pay plan between 2011-12 and 2015-16 did not need to pay tax on their share options.The plan put 17 of its executives into a special purpose ...
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AnalysisHas the role of health cash plans changed during the pandemic?
Need to know:The use of online counselling, virtual GP services and employee assistance programmes (EAPs) has soared since the start of the pandemic.Health cash plan providers are offering claim period extensions and payment holidays to help employees.The importance of providing all-round health support, as cash plans do, has become ever-more ...
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Supplier articleEVs and ULEVs: How employee benefits can help take petrol cars off the road
Sustainability. It’s a word we’re all hearing more of, and an issue that’s becoming more urgent with each passing year. While large corporations around the world strive to reduce their carbon footprint and make their products and materials more eco-friendly, individual Reward teams might think that they can't make a ...
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ArticleKeep updated with the Budget 2021
Tomorrow (3 March) Chancellor Rishi Sunak will deliver his long-awaited Budget 2021 – a statement widely anticipated to outline how the government will seek to rebalance the books after nearly a year of on-and-off economic shutdown.With debt now at 99.4% of GDP and borrowing at its highest level since 1993, ...
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ArticleEXCLUSIVE: Brunel University to discuss making benefits engaging without breaking the bank
EXCLUSIVE: Hazel Robinson, associate director of HR, head of reward and wellbeing at Brunel University, London, is to address how employers can make the most of their benefits and rewards packages without it costing the earth in a Covid-19 (Coronavirus) ravaged world.Speaking at Employee Benefits Insights 2021, an online series ...
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ArticleEXCLUSIVE: Inpulse launches employee ownership trust
EXCLUSIVE: Inpulse, the employee engagement firm, has become employee owned, with 75% of shares being given to employees.The move sees the ten-employee strong business transfer three-quarters of its shares to staff through an employee ownership trust (EOT). The trust appoints one of its own trustees to look after the business, ...
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ArticleHR and benefits heads left out of key decision-making
HR and benefits heads are being excluded from key decision-making processes that aim to create better, and more cohesive, employee experiences.This is the surprise finding of new research conducted among 750 chief information officers (CIOs) and 752 HR/internal communications (IC) professionals by pollster OpinionMatters.The study, commissioned by Social Chorus, revealed ...
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Supplier articleMaking the most of redundancy pay
The Government’s Coronavirus Job Retention Scheme comes to an end on 31 October 2020 in which a third of the UK workforce were furloughed. Given the global impact of the coronavirus crisis along with many recent redundancy announcements, it is an inevitable and an unfortunate fact that more redundancies are ...
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Supplier articleWhy Relevant Life Cover is Essential For SME’s
Many SMEs would love to offer their employees financial support such as life insurance, however sometimes setting up a group scheme may not be the best option – especially if you don’t have many employees.What is relevant life cover? Relevant life cover is a life insurance policy that allows you ...
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ArticleConfessions of a benefits manager: Candid looks at tax-effective benefits
You would think in these difficult times, the executive team would have more important things to think about, but their self-interest is immune. One of the guys in C-suite has asked us to focus on making executive benefits more tax-effective. Well, that’s not exactly what he said; in fact, he ...