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Employees and Employers Save with Cafeteria Plans

InterWest Insurance Services

As health care costs continue rising and employees are being asked to shoulder more of the expense burden, you can help them by offering a tax-advantaged plan that allows them to save for medical expenses. Employees can save an average of 30% in federal, state and local taxes on items they already pay for out of pocket.

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Choosing the best workplace pension for your business

Employee Benefits

More complex aspects like varying tax relief methods and payroll integration will be covered later. Which Tax Relief Method is Used? Relief at Source pension contributions from your employee are taken after tax deduction. Tax relief is at 20%, so if an employee wishes to contribute £100, they would need to contribute only £80.

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The UK Chancellor of the Exchequer, Jeremy Hunt, delivered the government’s Autumn Statement 2023 on 22 November.

Employee Benefits

Importance of understanding the implications for businesses and individuals Being informed about the UK budget helps people make informed financial decisions, adapt to changes in the economy, and proactively manage both personal finances in response to government policies and priorities.

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5 ways to prepare for a recession

Best Money Moves

Next, list your monthly expenses, including your rent or mortgage payments, utilities, groceries, pharmaceutical or medical needs, child care costs, home or auto maintenance, debt payments and insurance premiums, and anything else you regularly pay for, including expenses you might only pay annually.

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Are reward professionals ready for the 2026 P11D changes?

Employee Benefits

Credit: Hyejin Kang/Shutterstock Need to know: Employers should start planning now for the P11D changes to the reporting and paying of tax and Class 1A national insurance contributions (NICs) on benefits in kind, to ensure a smooth transition to the new system in April 2026.

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How much will I get while on workers’ compensation?

Workers' Compensation Perspectives

noted that gross pay results in inequities—uneven results for workers due to tax factors and number of dependents, concluding “.spendable The inequity of the “two-thirds” of average earnings compensation rate was highlighted in the National Commission on State Workmen’s Compensation Laws (1972) report. Burton, Jr.,

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Why Your Employees May Not Achieve a Comfortable Retirement

Employee Benefits

As an employer, you’re obliged to provide your staff with a workplace pension – a mandate made compulsory by the UK government in 2012. The government’s pension commission has suggested that individuals should aim for an annual retirement income comprising of 60-70% of their current income.

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