Pensions

10
Dec

Employer guidance from HMRC

  Employer guidance from HMRC HMRC has issued Employer guidance in the latest Employer Bulletin. This issue includes articles on a number of areas including: guidance for employers on reporting PAYE information in real time when payments are made early at Christmas electronic payment deadline falls on a weekend Ultra Low Emission Vehicle High Income Child Benefit Charge deadline 31

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8
Oct

Senior clinicians’ pensions consultation

  Senior clinicians’ pensions consultation The government has launched a consultation on proposals to give senior NHS doctors and nurses access to more flexible clinicians’ pensions. The proposals aim to offer senior clinicians more control over their pensions growth. The consultation follows reports that senior NHS clinicians pension tax charges are making them retire early or change their working habits. The

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12
Jul

Employer Bulletin – latest guidance

  Employer Bulletin – latest guidance HMRC has issued the June 2019 edition of the Employer Bulletin. This includes articles on a number of issues including: labour supply chain fraud using loans to avoid Optional Remuneration Rules re-enrolment of staff back into a workplace pension scheme GDPR fees contractors operating CIS – new VAT reverse charge on building and construction

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10
May

Government confirms pensions dashboards

  Government confirms implementation of pensions dashboards The government has confirmed that the initiative to introduce a pensions dashboard will go ahead. Pensions dashboards will allow those saving for retirement to view information from multiple pensions in one place stating that the dashboard will ‘open up pensions to millions’, and ‘provide an easy-to-access online view of a saver’s pensions’. The Department

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10
May

Employers Bulletin: Latest guidance for employers

  Latest guidance for employers HMRC has issued the latest version of the Employers Bulletin. This April edition has articles on a number of issues including: Cash Allowances, Flexible Benefits Packages and Salary Sacrifice Unpaid work trials and the National Minimum Wage Diesel Supplement Company Car Tax Changes to meet Euro standard 6d Student Loans Construction Industry Scheme – helpful

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8
Mar

Pensions auto enrolment contributions to rise

  Pensions auto enrolment contributions to rise Minimum auto enrolment pension contributions are set to increase from 6 April 2019: Duration Employer minimum Total minimum contribution Current contributions 2% 5% 6 April 2019 onwards 3% 8% The Pensions Regulator has produced guidance for employers on dealing with the increased auto enrolment contributions including a letter template to advise employees of

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7
Feb

Protect your pension pots

  Protect your pension pots The Insolvency Service has urged individuals saving for retirement to protect their pension pots from criminals and ‘negligent trustees’. Research carried out by the Service found that criminals use a range of tactics to convince savers to part with their funds, including persuading individuals to access their pension and invest in unregulated schemes. Pension scam

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17
Jan

Pension contribution increases ahead

  Pension contribution increases ahead The Pensions Regulator (TPR) is reminding employers that from 6 April 2019, the amount that will need to be paid into a workplace pension will increase to an overall minimum of 8%, with employers contributing at least 3% of this total amount. TPR is now starting to write to all employers to remind them of

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3
May

Form P11Ds to include benefits in kind

  Form P11Ds to include Benefits in Kind provided by salary sacrifice Employers need to report all Benefits in Kind (BiKs), including those under the Optional Remuneration Arrangements (OpRAs) or “salary sacrifice” arrangements, to HMRC on form P11D from 6 April 2018, unless they are registered to voluntarily payroll benefits. Benefits in Kind and Optional Remuneration Arrangements OpRAs are where

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1
Mar

Pensions funds can be very effective in estate planning

  We have featured the tax efficiency of pension fund investment in a number of recent newsletters. As well as the increased flexibility in terms of drawdown arrangements that were introduced in April 2015 there were some important changes to what happens to the undrawn funds on death. These changes mean that your pension fund can be passed to survivors

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