Check out Pay Check's second update on GDPR preparations
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A salary sacrifice scheme is an agreement between employer and employee to reduce an employee’s cash pay, in exchange for non-cash benefits. It’s a simple concept, where salary pay is swapped for a non-cash benefit of value and use to the employee.
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The UK has followed the same data protection legislation for over 20 years, but on 25 May 2018 that will change. The European Union is set to approve the final language of the General Data Protection Regulation (GDPR) on 24 May 2018 and require the 25-member countries to begin following the new legislation a day later. Despite Brexit, this includes the UK.
In April 2018 the Government’s current scheme for Childcare Vouchers will close to new entrants. Childcare Vouchers will continue for the foreseeable future, as we discuss later, but only for those enrolled as of April 2018. Other eligible parents must seek Government assistance under the Tax-Free Childcare scheme.
While the Government isn’t disbanding childcare support for working parents, the replacement Tax-Free Childcare scheme is a true overhaul of the system. Some parents eligible for vouchers will find they do not meet qualifications for the Tax-Free Childcare scheme. Conversely, previously ineligible self-employed parents could access the new scheme.
On 22 November, Chancellor of the Exchequer Philip Hammond presented the Autumn Budget to Parliament, and thereby announced several financial changes to the British public.
In most years, the Spring Budget, provided annually in March or April, sets government policy for the entire year. The typical Autumn Statement would merely provide an update on government spending plans. By presenting two budgets in 2017, Chancellor Hammond has reversed this policy for the first time since 1996.