All Tax-efficient benefits articles – Page 9
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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 ...
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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 ...