Employee Benefits

JANUARY 10, 2022

In what may bring a sigh of relief, 2022 is not a year with new legal requirements incumbent on employers regarding pensions. Then there is the issue of tax relief for low earners. Finally, another issue for 2022 is likely to be collective defined contribution (CDC).

Pension 72

Pension Net Pay Government Taxes 72

Employee Benefits

NOVEMBER 30, 2023

The payments can be made either through a salary sacrifice arrangement from gross pay or from a net pay arrangement. Caboodle, an Access company, runs its net pay scheme in conjunction with Currys. Are there any tax or legal issues? Employers can set a maximum limit for the retail voucher.

Technology 59

Technology Net Pay Gross Pay Taxes 59

Employee Benefits

SEPTEMBER 6, 2023

Bikes-for-work schemes are tax-exempt arrangements that encourage employees to cycle to work to reduce environmental pollution and promote healthier lifestyles. Are there any potential tax or legal issues ? The appeal of bikes-to-work schemes may, in part, lie in the potential national insurance (NI) and tax savings.

Gross Pay 59

Gross Pay Net Pay Taxes Deductions 59

Employee Benefits

FEBRUARY 15, 2023

Some [employers] can give big bonuses, but even if we gave everybody £100, after tax it would have a lower impact.” To this end, in 2022 Mitie introduced a winter support package, particularly aimed at those paid under £30,000 per annum. This included bonuses in January 2023 which were weighted towards the lower paid.

Net Pay 105

Net Pay Benefits Package Bonuses Salary 105

cipHR

MARCH 27, 2023

Any payroll outsourcing company will need to be able to factor in benefit-in-kind tax when it comes to working out payroll. E: EPS (employer payment summary) Part of the real-time information submission made by an employer to HMRC. I: Income tax year The annual period over which an individual’s income is assessed, and tax due.

Payroll 52

Payroll Outsourcing Payroll Payroll Software Family and Medical Leave Act 52

Employee Benefits

FEBRUARY 5, 2024

Law firm Stephenson Harwood has offered a salary sacrifice electric vehicle scheme to its 700 employees through provider Tusker since 2022. What’s important is that quote breaks down very clearly how much their net pay will be after the sacrifice, based on their tax code and earnings year to date.

Net Pay 59

Net Pay Pension Taxes Salary 59

cipHR

NOVEMBER 10, 2022

Payroll departments must now ensure they provide data to HMRC in real time each time they pay employees, that eligible employees are auto-enrolled into a pension, and keep staff up to date with an increased variety of benefits. This visibility is crucial in terms of communicating the value of benefits beyond net pay, adds Williams.

Payroll 52

Payroll Payroll System Salary Pension 52