Fair care news

Pension Advice through Salary Sacrifice

UPDATE: 02/05/17 due to the snap election, the Pensions Advice clause has been removed from a now simplified Finance Bill. The expectation is that legislation will be reinstated early in the new government, following 8th June 2017. A new tax exemption will come into play which allows employees to save Tax and National Insurance on the first ¬£500 worth of pensions-related Financial Advice, each tax year, when offered through a salary sacrifice scheme. (This is separate to the new Pensions Advice Allowance, which allows individuals to dip in to their pension fund to pay for advice.)…

Tax Free Childcare starts 28th April

Government has confirmed that Tax-Free Childcare will be introduced on 28 April, and will then be gradually rolled out over 2017. Parents of children under two will be invited to enter the scheme first.…

Salary Sacrifice Update

The draft legislation relating to the Finance Bill 2017 has brought clarity as to how Government will change the tax treatment of certain salary sacrifice schemes. The legislation will take effect from April 2017. In general, schemes entered into prior to April 2017 will be protected for 12 months.…