Rewards for employees where the employer and the employee benefit from cost savings include; Childcare Support Workplace Nursery Employee Travel Workplace Parking Staff Recognition Awards Gym Membership Employee Cars Mobile Phones Well-persons Check Private Healthcare Carbon off-setting Luncheon Vouchers Christmas Parties Meals in Staff Canteen Hot Drinks & Water at Work Car Clubs Professional Subscriptions Trivial Benefits upto £50 (inc High Street Vouchers) Training Long Service Awards Read more here
All posts in National Insurance
Income Tax Rates 20% Basic Rate: £0 – £31,785 40% Higher Rate: £31,786 – £150,000 45% Additional Rate: £150,000+ Income Tax Allowances Personal Allowance for anyone born after 1938 £10,600, born before 1938 £10,660, (income limit for age related allowances is £27,700). Blind Persons Additional Allowance £2,290. National Insurance Rates Class 1: Lower Earnings Limit (LEL) £112, Primary Earnings Threshold (PET) £155, Secondary Earnings Threshold (SET) £156, Upper Accrual Point (UAP) £770, Upper Earnings Limit (UEL) £815. Class 2: £2.80 per week, Small Earnings Exception £5,965 per annum, Special Rate for Share Fisherman £3.45 per week, Special Rate for Volunteer Development…
From 6th April, Employers no longer have to pay Secondary Class 1 NIC’s on earnings paid to under 21’s who earn less than £813 per week (Upper Earnings Limit (UEL) estimated for 2015/16). The policy discriminates in favour of those aged under 21 in order to improve their prospects on the employment market.
Class 1 Secondary Nic’s (employer nic’s), upto the Upper Earnings Limit (UEL) (£813 per week), no longer payable for under 21’s to encourage employers to employ under 21’s.