Changes to Childcare Vouchers – Join a Childcare Voucher Scheme before 6 April 2018

There will be changes to childcare vouchers from 6 April this year. Make sure to join a childcare voucher scheme before this date to offer your employees childcare vouchers as an attractive employee benefit.

Childcare vouchers

Childcare vouchers are an employee benefit offered by employers to help with approved childcare costs, for example a staff nursery. Employees can take up to £55 a week of their wages as childcare vouchers, which they don’t pay tax or National Insurance on. Per year, this adds up to around £1,000 that each parent can save on childcare costs. For businesses – offering childcare vouchers instead of offering to cover childcare costs for your employees can save the company up to £402 per year per parent.

Changes to childcare vouchers

From 6 April 2018, childcare voucher schemes will close to new applicants. This means that employers who want to offer their employees childcare vouchers as an employee benefit must join a childcare voucher scheme before this date. The changes only apply to new applicants, and will not have an effect on companies and employees already registered on a scheme. Employees of companies who join the childcare voucher scheme before 6 April can keep getting vouchers as long as they stay with the same employer and the employer continues to run the scheme, and they don’t take an unpaid career break of longer than a year.

Offering benefit schemes such as childcare vouchers is a way to attract employees, as it can cover living costs without incurring any tax for the employee. It can also save your business money, so it’s worth having a look at joining a childcare voucher scheme now before it is too late.

Goodwille can guide you through the changes to childcare vouchers and the effects this might have on you, your employees and your business. We can also help you with joining a childcare voucher scheme, and other employee benefit schemes.
Get in touch with us today if you want to know more.

We’re recruiting – Financial Controller

Location: London  (Kensington)
Goodwille is a forward-thinking, ambitious company dedicated to providing foreign businesses with the kind of professional services required to establish themselves and flourish in the UK. These include Corporate Legal, Finance, People Management, Payroll & Virtual Offices.

We are currently looking for an aspiring finance professional, preferably fluent in Swedish, to join our talented Finance team as a Financial Controller.

You will be responsible for
• your own portfolio of international clients
• day-to-day financial controller support to your clients
• producing a number of weekly, monthly, quarterly and yearly reports on behalf of your clients
• control over cash flow, preparation of accounts for audits, assist accountants with year-end work, and compile VAT returns and EC Sales Lists
• some task supervision but this is a hands on role with you being responsible for maintaining quality standards

Reporting to the Senior Financial Controller and primarily working with your colleagues in the Finance team, you will also find yourself liaising with all other departments, such as HR, Payroll and Company Secretarial departments on a regular basis, attending frequent team, company and client meetings.

Having, or working towards, an accountancy qualification is a prerequisite, as well as the kind of excellent communication and customer focus skills that will allow you to explain financial information to the team and, more importantly, your clients at all levels.
An excellent working knowledge of accounting software and Microsoft office (particularly excel) are essential. International or cross border experience would be an advantage.

In joining us, you will become part of a modern, forward-thinking and inclusive organisation, capable of offering a stimulating environment in which to accelerate your career in finance and accounting.

This is your chance to join #teamgoodwille – check us out on Instagram. When you join Goodwille you get access to a whole range of employee benefits, all designed to ensure an enjoyable work/life balance. Some benefits for all employees include:

• Office fruit every week
• Employee perks, rewards & benefits including discounts on supermarkets (Sainsburys, Tesco etc) high street stores (Topshop, John Lewis etc) & gyms.
• Complimentary phone insurance, as we know how important it is to stay connected
• Access to the well-being & lifestyle platform, including eating advice, exercise routines and yoga videos
• Generous social budget, for team lunches, parties or for you to hang out with colleagues.
• Yoga (London only by colleague)

If you like the sound of this vacancy and all the features and benefits you get by being part of a team like Goodwille, then please contact kevin.rutter@goodwille.com.
www.goodwille.com

HR News

2017/2018 statutory maternity & sick pay
New rates on maternity pay, paternity pay, shared parental pay, adoption pay and sick pay will be effective from April 2017.

The current weekly rate of statutory maternity pay is £139.58, or 90% of the employee’s average weekly earnings if this figure is less than the statutory rate. The rate of statutory maternity pay is rising to £140.98 from April 2017. The increase normally occurs on the first Sunday in April, which in 2017 is 2 April.

Also on 2 April 2017, the rates of statutory paternity pay and statutory shared parental pay will to go up from £139.58 to £140.98 (or 90% of the employee’s average weekly earnings if this figure is less than the statutory rate).

The rate of statutory adoption pay increases from £139.58 to £140.98. This means that, from 2 April 2017, statutory adoption pay is payable at 90% of the employee’s average weekly earnings for the first six weeks, with the remainder of the adoption pay period at the rate of £140.98, or 90% of average weekly earnings if this is less than £140.98.

The rates normally increase each April in line with the consumer price index (CPI). A 0.1% fall in the CPI in the year to September 2015 meant that there was no increase to the rates in April 2016. This means that the rates have been frozen since 5 April 2015.

However, the CPI has increased by 1% in the year to September 2016, which is reflected in the rates for 2017/18.
“Their publication well in advance of April 2017 will help employers to plan their budgets for 2017/18, and to prepare amendments to their policies and documents on family-friendly benefits for April 2017.”

The rate of statutory sick pay is also increasing from £88.45 to £89.35. This increase is expected to occur on 6 April 2017. To be entitled to these statutory payments, the employee’s average earnings must be equal to or more than the lower earnings limit. The lower earnings limit is increasing from £112 to £113 in April 2017

Source: Personneltoday.com

Salary Sacrifice on Certain Benefits
Changes coming into effect in April 2017 mean only a limited number of benefits will continue to benefit from tax & NIC’s relief if provided through a salary sacrifice arrangement. These are:

• Enhanced employer pension contributions to registered pension schemes (and pension’s advice).
• Childcare benefits (employer-supported childcare and provision of workplace nurseries).
• Cycles and cyclists’ safety equipment provided under the cycle to work scheme.
• Ultra-low emission cars.
• Existing arrangements will be protected until April 2018 (or April 2021 for cars, accommodation and school fees).

Subsequently, a significant number of employees will lose tax relief attached to employee benefits including health checks, gym memberships & mobile phone agreements.

Jury Service
In other HR news, the maximum age for Jury service will be raised from 70 to 75 years old, with the Government saying for the first time it will draw on the “life experience” of pensioners over 70.