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Remuneration/Employee Benefit Programs

Employers who wish to attract, retain and motivate the best quality staff would be well advised to consider offering a menu of employee benefits which can be tailored without extra cost to meet the needs of individual employees. Here as in other areas of financial planning, tax-efficiency is important and there are opportunities for avoiding National Insurance contributions and benefiting from tax concessions.

Firms with five or more employees are required by law to make available a Stakeholder or equivalent pension scheme for all their staff and tax relief can be obtained in respect of pension-related life cover. Different arrangements may be appropriate for executives – and their spouses – which may involve tailored investment portfolios or the purchase of business property. Private medical insurance and income replacement cover are often highly valued by employees and will at the same time benefit employers.

If you require advice on employee benefits we would be very happy to discuss the types of schemes and benefits that are available to ensure that you have an employee benefits package which is personally fitted to match your requirements.