Some loans made to employees require employers to be licensed under the Consumer Credit Act 1974 to avoid potential criminal liability and to be able to enforce the loan. The OFT now requires such employers to register with it for AML purposes. The Office of Fair Trading (“OFT”) has announced that persons offering consumer credit […]
Read More… from Compensation & Benefits: OFT takes anti-money laundering (“AML”) role
Small increases to the national minimum wage took effect from 1 October 2009 […]
Read More… from Compensation & Benefits: National minimum wage rises (slightly)
Earlier in 2009 the European Court of Justice ruled that workers who were on long-term sick leave were entitled to continue accruing annual holiday even if they had exhausted all entitlement to paid sick leave […]
Read More… from Compensation & Benefits: Statutory holiday pay for workers on long term sick leave
We look at the new tax rates in force from April 2010 as well as the new rules on tax relief for pension contributions. Changes to the UK tax system taking effect from 6 April 2010 significantly increase the tax burden on those earning over £100,000, with some paying income tax at a 60% rate. […]
Read More… from Compensation & Benefits: UK income tax and social security – the new realities
New personal pension accounts regime – an employer’s guide […]
Read More… from Compensation & Benefits: New personal pension accounts regime
The proposal extends the current employee share schemes exemption to all companies even if they are not listed on a regulated market in the EEA, but it may take some time to come into force […]
The Confederation of British Industry and recruitment consultancy Harvey Nash have published a survey revealing the extent of organisational changes employers have made or are considering making to weather the downturn. […]
Thomsons Online Benefits publish Employee Rewards Watch 2009 […]
Read More… from Compensation & Benefits: Thomson Online Benefits publish Employee Rewards Watch 2009
Employees participating in HMRC approved Sharesave schemes are required to save a certain amount from their net pay, normally monthly. The arrangement will normally include an entitlement to a bonus which is equal to a guaranteed number of monthly contributions […]
Read More… from Compensation & Benefits: New Sharesave bonus rates
HMRC has published updates to the ESSUM including some useful clarifications on SAYE (“Save As You Earn”) and CSOP (Company Share Option Plan) options […]