All Tax-efficient benefits articles – Page 8
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ArticleNewcastle City Council launches bikes-for-work scheme
Newcastle City Council has launched a bikes-for-work scheme for its 13,000 employees.The scheme, delivered by Bike2Work, a provider of the government’s bikes-for-work programme, has been introduced to help staff increase their fitness levels. The scheme also aims to reduce pollution in the area and ease local traffic congestion.Employees who register ...
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ArticleEXCLUSIVE: Just 9% do not offer any benefits through salary sacrifice
EXCLUSIVE: Just 9% of employer respondents do not offer any benefits through a salary sacrifice arrangement, according to research by Employee Benefits and Staffcare.The Employee Benefits/Staffcare Benefits research 2017, which surveyed 271 employer respondents in February-March 2017, also found that more than three-quarters (80%) of respondents offer benefits through a ...
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ArticleEXCLUSIVE: 84% offer salary sacrifice pension arrangements
EXCLUSIVE: More than three-quarters (84%) of employer respondents allow staff to contribute to their defined contribution (DC) pension through a salary sacrifice arrangement, according to research by Employee Benefits and Staffcare.The Employee Benefits/Staffcare Benefits research 2017, which surveyed 271 employer respondents in February-March 2017, also found that this is 10 ...
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OpinionCrowley Woodford: Take stock of benefits strategies in light of upcoming changes
Employee benefit offerings come in all shapes and sizes. At one end of the spectrum, there are the traditional employee benefits such as contributions to an employee's pension scheme, childcare vouchers, and subsidised gym membership, and at the other end there are wine clubs, unlimited holiday allowances, and free-bacon Thursdays.With ...
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ArticleConfessions of a benefits manager: Candid gets to grips with salary sacrifice changes
Big Bad Boss has two approaches to a new issue. His first, and most frequent, response is to flap around firing off directions to everyone in the team without thinking it through. This happens if there is any kind of request from the top floor. His second approach is to ...
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ArticleEXCLUSIVE: 17% reviewing benefits strategy in light of salary sacrifice changes
EXCLUSIVE: Less than one-fifth (17%) of employer respondents either have, or will, review their benefits strategy in light of the changes to salary sacrifice, according to research by Employee Benefits and Staffcare.The Employee Benefits/Staffcare Benefits research 2017, which surveyed 271 employer respondents in February-March 2017, also found that 20% of ...
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ArticleEmployee Benefits/Staffcare Benefits research 2017
Click to download the Employee Benefits/Staffcare Benefits research 2017The Employee Benefits/Staffcare Benefits research 2017 was conducted in February-March 2017 among readers of employeebenefits.co.uk. It received 271 responses.This report is aimed at helping compensation, reward and benefits professionals understand the key issues driving current benefits strategies, as well as issues shaping ...
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ArticleDebbie Lovewell-Tuck: Shaping benefits strategies against a backdrop of change
The world has changed immeasurably in the 12 months since we published the Benefits research 2016.As the UK moves further towards its exit from the European Union and, at the time of writing, towards a snap general election, much uncertainty exists as to the potential impact of such events on ...
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Article
11: Tax-efficient benefits
Just 9% of respondents’ organisations do not offer any benefits through a salary sacrifice arrangement, according to the Employee Benefits/Staffcare Benefits research 2017. This compares to 15% of respondents that said the same in 2016.The fall in the proportion of respondents that do not offer any benefits via salary sacrifice ...
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OpinionSusan Ball: What do the changes to salary sacrifice mean for employers?
With publication of the Finance Bill, the final legislation around changes to salary sacrifice is now available, and considerably more pages have been added. Given the volume of additional legislative text, coupled with the short timeframe between publication and the 6 April 2017 effective date, employers face significant practical difficulties ...
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ArticleThe tax and legislation changes impacting reward from April 2017
Chancellor Philip Hammond used both the Autumn Statement 2016 and the Spring Budget 2017 to confirm a number of measures that will affect the pay and benefits landscape. Below is a round up of these measures, along with other tax and legislation changes coming into effect from April 2017:National minimum ...
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ArticleGovernment legislates for changes to salary sacrifice arrangements
The government has published draft guidance on the changes to certain benefits that attract tax and national insurance contribution (NIC) advantages when offered through a salary sacrifice arrangement for the 2017-2018 tax year.The changes form part of the Finance Bill 2017 and are due to come into effect from 6 ...
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Article32% take part in company car schemes to drive a better car
Around a third (32%) of respondents cite the ability to drive a better car as their reason for taking part in a company car scheme, according to research by Maxxia.Its survey of 207 UK employees who are part of a salary sacrifice or traditional company car scheme or who receive ...
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ArticleTesco to back pay staff after salary sacrifice-linked living wage error
Retail organisation Tesco is to provide back pay to 140,000 former and current employees after it was found that their pay fell below the national living wage after salary sacrifice deductions.An internal review of Tesco’s reward system found that some employees were being left with a base salary below the ...
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ArticleGovernment to consult on accommodation benefits
Spring Budget 2017: The government is to consult on proposals to bring the tax treatment of employer-provided accommodation, board and lodgings up to date.The consultation was announced in the Autumn Statement in November 2016 and confirmed in the Spring Budget 2017 policy paper.The consultation will include proposals that consider when ...
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ArticleGovernment to call for evidence on taxation of benefits in kind
Spring Budget 2017: The government is to publish a call for evidence on exemptions and valuation methodology for the income tax and employer national insurance contribution (NIC) treatment of benefits in kind.The government announced its intention to call for evidence on this issue in the Autumn Statement 2016, and reconfirmed ...
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ArticleHow to future proof a reward strategy in light of changing pay regulations
Need to knowNew legislation on the horizon could increase pay bills in certain sectors.Changes to salary sacrifice arrangements could also impact the benefits mix.Reward professionals need to communicate with employees, the wider business and government.This year will see a raft of pay and benefits-related initiatives come into force or appear ...
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ArticleBuyer's guide to bikes-for-work schemes
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 the ...
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ArticleWhat impact will the Autumn Statement changes have on engagement with ultra-low emission vehicles?
Need to know:From April 2017, current tax and national insurance advantages for some company car salary sacrifice schemes will be removed, with the exception of arrangements relating to ultra-low emission vehicles.Pre-existing car salary sacrifice arrangements in place before April 2017 will be protected until April 2021.There will be new tax ...
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OpinionKevin Gude: Salary sacrifice changes risk turning certain health benefits into luxuries
The forthcoming changes to salary sacrifice rules, in particular, the effect on health screening and other medical benefits, reflect a carelessly fragmented attitude towards the nation’s wellbeing and fitness. As the NHS struggles to meet the needs of an ageing, increasingly long-living but unfit population, the Treasury is withdrawing its ...