Employee Benefits
FEBRUARY 21, 2024
Firstly, the reduction does not directly benefit employers since they will continue to pay secondary (employers) NICs at the current rate of 13.8% on pay and taxable benefits. Arguably, it may take a little pressure off employers when it comes to demand for future pay rises. Is it all good news?
HR Professionals Magazine
JULY 26, 2022
What is the relationship between inflation and employee benefits? Why would inflation be important when employers are considering impacts to employees? Projected National Health Expenditure, 2019-2028. trillion by 2028. by 2028. . by 2028. . for 2019-28 and to reach $6.2 in 2018 to 19.7%
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Employee Benefits
APRIL 22, 2024
The frozen tax thresholds could see some employees ‘dragged’ into paying more tax and have less disposable income as a result. Employers should ask employees about their financial pressures to understand how to support them. A salary sacrifice arrangement can support employees who are dealing with the impact of fiscal drag.
Employee Benefits
NOVEMBER 17, 2022
Autumn budget 2022: The government has decided to maintain the current freeze on employers’ national insurance (NI) contribution thresholds for a further two years. Chancellor of the exchequer Jeremy Hunt told the House of Commons in his autumn budget that the freeze would continue to April 2028.
Employee Benefits
AUGUST 22, 2023
UK Workplace Pension Regulations: What Every Employer Should Know In the dynamic landscape of finance, grasping the nuances of workplace pension regulations might be daunting. Therefore, it’s vital to familiarise yourself with the core pension obligations for both employees and employers. Here’s the breakdown.
Employee Benefits
FEBRUARY 14, 2024
The UK government plans to increase the retirement age from 66 to 67 by 2028 and 68 by 2044, with experts believing it may eventually rise to 71 (Workplace Wellbeing Professional). Whilst employees can still choose to retire early, if they have the means, they won’t be able to access their government pension till much later.
Employee Benefits
FEBRUARY 22, 2023
Car salary sacrifice arrangements remain a popular employee benefit; in its January 2023 Leasing Outlook , the British Vehicle Rental and Leasing Association (BVRLA) found a 20.5% A car salary sacrifice scheme allows an employee to give up an amount from their gross salary in exchange for the use of a car for a period of time.
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