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Employee incentives, benefits and taxes

To ensure that organisations balance competitive reward packages and costs.

People

Recruitment and retention of good quality people is high on the agenda of most businesses. So too, is managing employment costs in an increasingly competitive marketplace. Striking a balance between the two is not eased by the added burdens of Pay As You Earn (PAYE), National Insurance contributions and employment law legislation. At Hillier Hopkins we can guide you through the legislative minefield and help you design and administer suitable remuneration schemes tax efficiently.

Employment Costs

Employment costs are a major component of overall costs in most businesses.

Whether it be a decision to implement a new incentive scheme, or a decision about whether to offer a car to a new employee, tax is crucial to the impact of that decision on bottom line profit.

Inland Revenue

Reporting requirements for pay and benefits have become much more onerous in recent years. Add to that the compliance burden placed on employers of the working families tax credit, children’s tax credit and student loans and it is difficult, particularly for a small business, to keep up to date with new developments and legislative requirements. We can assist you with the reporting and operation of employee reward schemes.

We offer expertise in a number of areas including:

• Designing and implementing incentive schemes
• Enterprise Management Incentives (EMI)
• Assistance with year-end reporting of share options and other benefits
• Establishing benefits and expenses policies and securing Inland Revenue dispensations
• Advice on company car schemes or alternatives
• PAYE and National Insurance advice
• Flexible benefits schemes