Category: Employer

Comments Off on Auto Enrolment – non-compliance risks your credit rating

Auto Enrolment – non-compliance risks your credit rating

Auto Enrolment – non-compliance risks your credit rating The Pension Regulator has reported that they are beginning to see the first employers receive County Court Judgements (CCJs) for a failure to pay their automatic enrolment fines. This can happen when they persistently ignore the penalty notices sent to them. If they don’t pay the fine … Continued

Comments Off on Small firms pay above minimum pension contribution

Small firms pay above minimum pension contribution

Small firms pay above minimum pension contribution

Small firms pay above minimum pension contribution 37% of small businesses are paying above the 1% legal minimum contribution to an employee’s  workplace pension. The People’s Pension survey of 898 business owners that have already passed their staging date found that the majority (70%) said auto-enrolment was beneficial to their staff. 50% said it was … Continued

Comments Off on Financial concerns affecting worker performance

Financial concerns affecting worker performance

Financial concerns affecting worker performance

Financial concerns affecting worker performance A quarter of employees have financial problems that are affecting their performance at work. A CIPD survey of over 1,800 UK employees found that 31% of those aged 18-24 are facing financial concerns that they feel are negatively impacting their ability to do their job effectively. 20% of those earning … Continued

Comments Off on £17 billion in workplace pensions by 2020

£17 billion in workplace pensions by 2020

£17 billion extra a year will be saved into workplace pensions as a result of auto-enrolment by 2019/20, according to the Department for Work and Pensions. Estimates show that this figure will be made up of around: £8 billion in employee contributions £6 billion in employer contributions £2 billion of tax relief on employee contributions. … Continued

Comments Off on Higher earning parents use flexible working

Higher earning parents use flexible working

Parents who earn more are more likely to work flexibly, according to the charity Working Families. 69% of parents who earn more than £70,000 a year work in a flexible way, compared to 47% of those earning between £10,000 and £40,000. More than two thirds (68%) of all working parents said their work interferes with … Continued

Comments Off on EU workers uncertain over residency status

EU workers uncertain over residency status

EU workers uncertain over residency status

EU employees are concerned about their residency status following the EU referendum.  A British Chambers of Commerce (BCC) survey of 800 companies who employ EU workers found that 41% of businesses say their EU staff are worried. Further findings: 5% have seen members of staff resign 10% have seen their employees express an intention to … Continued

Comments Off on Rewarding your staff this Christmas – a tax guide

Rewarding your staff this Christmas – a tax guide

Rewarding your staff this Christmas – a tax guide

This article outlines some of the different ways employers can reward their staff and the tax implications of each approach. Seemingly as quickly as it came, another year is galloping off into the distance and people’s minds are beginning to turn to the festive holidays. Employers will want to show their staff that the year’s … Continued

Comments Off on Employee Benefits

Employee Benefits

Group Death in Service In order to attract and retain key employees many employers are now looking at a flexible benefit package rather than purely higher salaries. Tax benefits that might be of interest are outlined below. The death of an employee whilst in the service of the company can present the company with a … Continued

Comments Off on New national minimum wage rates from 1 October

New national minimum wage rates from 1 October

New national minimum wage rates from 1 October

New hourly national minimum wage (NMW) rates come into effect on 1 October 2016. Employers are already legally required to pay eligible workers who are 25 or over the national living wage (NLW) of £7.20 an hour. Hourly NMW and NLW rates Age From October 2016 Until October 2016 25 and over £7.20 £7.20 21-24 … Continued

Comments Off on Apprenticeship funding proposals announced

Apprenticeship funding proposals announced

Apprenticeship funding proposals announced

Employers with 50 employees or fewer will have up to 100% of their apprenticeship training costs funded by the government. The government has announced more details about its apprenticeship programme and the funding that will be available to businesses that take on apprentices. The proposals relate to the reform of apprentice funding in May 2017. … Continued