All Tax-efficient benefits articles – Page 7
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Article29% cannot explain how company cars impact upon their taxes
Under a third (29%) of respondents cannot explain how having a company car impacts on their taxes, and simply accept the amount that comes out of their pay packet, according to research by vehicle supply organisation OSV.Its survey of 759 individuals also found that 51% admit that they still do ...
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Article67% feel employers could do more to encourage active commuting
More than two-thirds (67%) of respondents believe that employers can make allowances to help encourage employees to have a more active commute, according to research by social enterprise organisation Free2cycle.The survey of 2,000 UK individuals highlighted initiatives such as introducing flexible start times, providing access to changing facilities and offering ...
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Case StudiesNewport City Council uses cycle to work scheme to boost work-life balance
Newport City Council employs approximately 5,500 staff, ranging from waste collectors to teachers and social workers, many of whom work long hours in high-stress roles, on top of which a lengthy commute might feel like yet more time taken away from other pursuits.Working with Halfords Cycle 2 Work, the council ...
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OpinionAoife Hamilton: Childcare vouchers and family-friendly ways to promote a healthy work-life balance
It is important to understand the challenges parents face in achieving their desired work-life balance.Striking the Balance: the impact becoming a parent has on working life, employment and career, a survey of 4,200 parents from across Northern Ireland published by Employers for Childcare in October 2016, revealed that 91% found ...
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OpinionSusan Ball: Employers need to review optional remuneration arrangements now
Many employers remain unaware of the change in rules covering flexible benefits and salary sacrifice, or cash alternative arrangements from 6 April 2017. With many questions unanswered, correct filing of 2017-2018 P11Ds is going to be difficult.Under the new rules, where a benefit is selected, a tax and national insurance ...
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Article40% of employees are happy with their benefits package
Just two-fifths (40%) of respondents are happy with the benefits package offered by their employer, according to research by Willis Towers Watson.Its Global benefits attitude survey, which surveyed 2,824 employees, also found that almost three-quarters (72%) of respondents who are able to tailor their provision via flexible benefit schemes, feel ...
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ArticleEXCLUSIVE: Registers of Scotland hosts benefits fairs for 1,000 staff
EXCLUSIVE: Non-ministerial government department Registers of Scotland has held two benefits fairs for its 1,000 employees in order to promote its new employee benefits platform, existing benefits package and new salary sacrifice benefits.The benefits fairs were held on 26 and 27 February 2018 at the department’s Edinburgh and Glasgow sites. ...
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OpinionLovewell's logic: Is government backtracking on tax-free childcare?
On Tuesday (13 March), the government announced that it is to delay the closure of workplace childcare voucher schemes by six months, extending the April deadline for employees to sign up to a scheme.Since it was announced that childcare vouchers would be phased out to make way for the government’s ...
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ArticleExclusive: Discover the future of salary sacrifice cars at Employee Benefits Connect
EXCLUSIVE: Delegates at Employee Benefits Connect 2018 will be able to gain insight on the future of salary sacrifice car schemes and discover the role these schemes can play as part of an organisation’s benefits package.Claire Evans (pictured), head of consultancy at Zenith, will present a session titled ‘What will ...
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Case StudiesSiemens UK launches benefits platform to align with business digitalisation
Global technology organisation Siemens has launched a new benefits platform for its 15,000 UK and Ireland-based employees in order to align its benefits technology with the organisation’s overall business focus on digitalisation.Heike Avramovic, head of reward for UK and Ireland at Siemens, says: “It’s about culture, and the culture needs ...
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AnalysisHow do salary sacrifice arrangements affect gender pay gap reporting?
Need to know: Deductions for salary sacrifice arrangements are excluded from an employee’s base pay for the purposes of gender pay gap reporting. This could influence an organisation’s final gender pay gap data depending on how many women compared to men have taken up benefit via ...
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Article53% of employers cannot afford non-performance-related benefits
More than half (53%) of employer respondents cannot afford to provide non-performance-related benefits because their organisation does not have sufficient budget, according to research by One4all Rewards.Its survey of 1,024 UK employees and 476 UK employers also found that 10% of employer respondents are currently making use of the tax ...
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ArticleIncome tax exemption for Armed Forces accommodation allowances announced
Autumn Budget 2017: The government has announced the introduction of an income tax and national insurance contribution (NIC) exemption for accommodation allowances for Armed Forces personnel.The exemption will apply to certain allowances paid to personnel for renting or maintaining accommodation in the UK private market.The exemption is to support the ...
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ArticleSecond Finance Bill to legislate for pensions advice exemption and company car tax bands
A second Finance Bill 2017 has been introduced into Parliament, which includes the introduction of an income tax exemption for the first £500 of employer-arranged pensions advice, company car tax bands, and the retrospective application of the money purchase annual allowance (MPAA).A number of measures were dropped from the Finance ...
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Article89% use salary sacrifice to buy technology they could not afford outright
Almost nine in 10 (89%) respondents who have purchased a technology product through a salary sacrifice scheme would not have bought the product elsewhere because they could not afford to buy the item outright, according to research by Let’s Connect, part of Personal Group.Its survey of 1,100 employees who have ...
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Supplier article
The winners and losers of the new tax-free childcare system
Changes to the childcare voucher system were rolled out in April 2017. Parents who are already members of the current childcare voucher system can continue in it, providing their employer will still provide access to it; new members will also have the opportunity to join the current scheme up until ...
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Supplier article
How to help employees protect their maturing share schemes from tax
Employees from many leading companies are benefiting from maturing Save As You Earn (SAYE) share schemes this year, but what can they do to make sure that these potentially life changing amounts aren’t eroded by Capital Gains Tax (CGT)?WEALTH at work works with many employers to offer financial education to ...
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Case StudiesNottingham City Council amends staff travel schemes in response to salary sacrifice changes
Nottingham City Council closed its company car scheme and amended its staff travel benefits to be offered through net pay in order to counteract the loss of tax advantages.The council, which has 7,000 employees, closed its company car scheme in December 2016 to new members, following the government’s confirmation that ...
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OpinionJohn Pryor: Employers need to look at the total cost of mobility as staff travel options unify
Employee travel choices for business journeys have never been more numerous than they are today.Consequently, the opportunities for employers to implement a diverse, multi-faceted, sustainable mobility plan and simultaneously display corporate social responsibility have never been greater.Travel options range from the established, such as cars, whether organisation-provided, a hire car ...
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AnalysisWhat are the latest trends in staff travel?
Need to know:The changes to salary sacrifice arrangements that impact car schemes offered on this basis may have changed some employees’ attitudes to cars, but promoting green cars is an option for employers.Employers can support the implementation of electric and hybrid cars by investing in charging points.Changing working practices, such ...