All Tax-efficient benefits articles – Page 9
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Supplier article
Understanding and preparing for salary sacrifice changes
The benefits landscape has changed, but there are measures you can take to try and regain control of the new world of salary sacrifice. But as an HR professional, why does this matter? Many companies have been using the tax savings to fund other HR programmes or pass along savings ...
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Supplier article
Changes to workplace savings from April 2017
A number of key changes to workplace savings are due to come in that employers and employees should be aware of.WEALTH at work has outlined below some of the key changes coming up.Salary sacrifice – The government has announced from April 2017 it is limiting the range of benefits that ...
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ArticleBuyer's guide to corporate gym membership
The facts:What is corporate gym membership?This can be offered to staff by their employers on a paid-for or discounted basis, providing access to a gym, health club, leisure or sports centre, or even exercise classes, as part of a voluntary or flexible benefits package.Where can employers get more information?Visit the ...
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Article27% believe the salary sacrifice changes will damage employee engagement
More than a quarter (27%) of employer respondents believe that the limitations on salary sacrifice arrangements will damage employee engagement and employee relations, according to research by Jelf Employee Benefits.Its 2017 Jelf employment survey, which surveyed approximately up to 350 employers across England and Wales, also found that 47% of ...
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ArticleHow will the limits on salary sacrifice tax advantages impact benefits strategies?
In the Autumn Statement 2016 presented on 23 November, Chancellor Philip Hammond confirmed that the government will limit the range of benefits that attract tax advantages when offered through a salary sacrifice arrangement.The announcement followed a government consultation, which ran from 10 August to 19 October 2016. Following the Autumn ...
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OpinionLovewell's logic: Is the abolition of salary sacrifice actually an opportunity?
This week’s Autumn Statement brought months of speculation to an end when Chancellor Philip Hammond announced that the tax and NI advantages on benefits offered via salary sacrifice will be abolished from April next year.Contrary to many reports in the national press over the last week or so, this was ...
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ArticleHow the Autumn Statement 2016 will impact employee benefits
On 23 November 2016, Chancellor Philip Hammond delivered his Autumn Statement 2016 speech. Below is a round-up of the key announcements with a bearing on employee benefits:From April 2017, the government will limit the range of benefits that attract tax and employer national insurance (NI) advantages when offered through a ...
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ArticleGovernment limits tax-efficient salary sacrifice arrangements
Autumn Statement 2016: From April 2017, the government will significantly limit the range of benefits that attract tax and employer national insurance (NI) advantages when offered through a salary sacrifice arrangement.Pensions and pensions advice, childcare, bikes-for-work schemes, and ultra-low emission vehicles (ULEVs) will be exempt from the changes.Arrangements in place ...
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ArticleGovernment retains freeze on fuel duty
Autumn Statement 2016: Chancellor Philip Hammond has announced in his Autumn Statement speech that fuel duty will be frozen at 57.95p litre for the seventh consecutive year from April 2017.The continued freeze is estimated to save the average car driver £130 a year and van drivers £350 a year. This ...
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ArticleHome Group and Asda celebrate achievements via digital peer recognition
Employee Benefits Live 2016: Home Group uses a digital recognition programme to enable both peers and managers to celebrate individuals' achievements and hard work by sending e-cards to employees across the business.The number of e-cards sent and the reasons for these are reviewed by the executive team on a monthly ...
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ArticleCurrent government consultations could impact employee benefits strategies
A round-up of current government consultations with a bearing on employee benefits:Tax-efficient benefitsHM Revenue and Customs has launched a consultation to examine the potential impact on employers and employees should the government change the way the benefits code applies when a benefit in kind (BIK) is provided in conjunction with ...
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Article
6: small tax and leg: Government consultation round-up
Gender pay gap reporting for the public sectorGender pay gap reporting guidelines are already in place for private and voluntary organisations employing more than 250 staff, with initial data due to be captured in 2017. In alignment with these measures, the government has recently concluded consulting on how to implement ...
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ArticleEXCLUSIVE: 49% cite flexible working as most coveted future benefit
Just under half (49%) of respondents say flexible-working arrangements and work-life balance will be the most important benefits to them in the future, making it the most coveted benefit, according to research by Grass Roots.Its Future of employee benefits report, which surveyed 1,000 employees and 200 HR managers, also found ...
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Case StudiesCountrywide aligns benefits and reward to help boost growth
Countrywide Group, the UK’s largest property services group, began the task of building a reward function in September 2014, when it drafted in Neil Goodwin, head of reward.He joined on the brink of a group-wide overhaul at the FTSE 250-listed group, which until then had just an operational human resource ...
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ArticleEXCLUSIVE: 36% have not reviewed core benefits in the last two years
Just over a third (36%) of respondents have not reviewed their core benefits offering in the last two years, according to research by Hargreaves Lansdown.Its study of 350 employers also found that only 13% of organisations that provide flexible benefits do not operate salary sacrifice arrangements, or if they do, ...
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ArticleEXCLUSIVE: 74% offer salary sacrifice pension arrangements
EXCLUSIVE: Almost three-quarters (74%) of employer respondents enable staff to contribute into their defined contribution (DC) pension scheme via a salary sacrifice arrangement, according to research by Employee Benefits and Xerox HR Services.The Benefits research 2016, which surveyed 338 employer respondents, also found that two-thirds (66%) of respondents offer a ...
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Supplier article
The future of salary sacrifice after HMRC consultation
Recently there has been much speculation that the government was concerned about – and intended to change – the rules that allow many employee benefits to be provided via a mechanism known as salary sacrifice.The reason for this focus is that the number of salary sacrifice schemes operated in the ...
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ArticleGovernment consults on tax-efficient benefits
HM Revenue and Customs (HMRC) has launched a consultation on limiting the range of benefits that attract relief on tax and national insurance contributions (NICs) when provided as part of a salary sacrifice arrangement or flexible benefits scheme.The consultation seeks to examine the potential impact on employers and staff should ...
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ArticleTarmac introduces technology scheme
Building materials organisation Tarmac has introduced a technology scheme for its 7,000 UK employees.Tarmac launched the SmartTech scheme, provided by Reward Gateway in partnership with Currys PC World, in July 2016. The scheme enables staff to purchase technology products on an interest-free basis from their net salary.The scheme gives employees ...
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ArticleSG Fleet acquires Fleet Hire
SG Fleet has acquired contract hire, fleet management and salary sacrifice provider Fleet Hire.SG Fleet Group manages a fleet of approximately 130,000 cars across Australia, New Zealand and the UK, while Solihull-based Fleet Hire currently has 60 staff and 6,500 cars in the UK.Fleet Hire's senior team, including chief executive ...