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Having a Baby? Use Your Pre-Tax Funds to Save

Benefit Resource Inc.

Benefit Resource (BRI) is here to help you use your pre-tax funds to combat some of the costs that come with welcoming your new addition. When preparing for a baby, or growing with your toddler, here are some manageable steps to help you get started. As a bonus, all of your gains will come out pre-tax! The post Having a Baby?

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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. However, if you’re an HR or Finance Lead tasked with selecting a new workplace pension, you might need a dedicated account manager who can assist with staff onboarding and implementation. Which Tax Relief Method is Used?

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Top 5 reasons to check your payslip

cipHR

It’s worth remembering that it’s an employee’s responsibility to check they’re on the right tax code, as it impacts how much tax they pay – whether it’s too much tax or too little. For the 2021/22 tax year (and through to 2025/26), the tax code for most people under 65 who only have one job or pension is 1257L.

Pension 98
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If You’re Paid Biweekly, You’ll Probably Get an Extra Paycheck in 2020

HR Digest

It depends on how your employer will manage this unusual year. Some employers may choose to divide employees’ annual salary over 27 pay periods instead of 26. This means that gross pay would be 3.7% lower each pay period during 2020 (although you’d make the same total salary). How should you prepare for these changes?

401(k) 81
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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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Fiscal drag: how can employers offset the challenges of a difficult economy?

Employee Benefits

The frozen tax thresholds could see some employees ‘dragged’ into paying more tax and have less disposable income as a result. In his Autumn Statement last November, Chancellor Jeremy Hunt extended the freeze on national insurance (NI) and income tax rate thresholds until April 2028.

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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.