Section 75 Pensions Act 1995 and the New Deferred Debt Arrangements

Background Section 75 and 75A Pensions Act 1995, as amended by Employer Debt Regulations, provides that an annuity buy-out debt is triggered on an employer of a defined benefit scheme in certain circumstances. These include:  Where the employer triggers a winding up of the scheme  The employer becomes insolvent   Where the employer leaves a multi-employer […]

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Autumn Statement 2015: Main points to note for UK employers

Following the tax announcements of the Summer Budget in July of this year, yesterday’s Autumn Statement focussed mainly on the Government’s Spending Review. However, it did also contain a few significant tax-related changes that will impact HR practitioners. […]

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Summer Budget 2015 – Key announcements relevant to UK Employers

The second budget of 2015 in many ways continues previous trends as the UK government looks to incentivise people into work, reduce state benefit and deficit bills and promote the UK as “open for business”. However there was one major surprise announcement impacting employers with the introduction of a new National Living Wage. Aside from this headline grabbing measure we saw a continued focus on reducing tax reliefs for the highest earners and the crack down on tax avoidance. […]

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Compensation & Benefits: UK income tax and social security – the new realities

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.  […]

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