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Reward and Benefits

Reward and Benefits

Providing updates on all of the elements that make up an employee's total reward - how that is benchmarked, structured, designed and delivered.

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Matthew Hunnybun

Partner

KPMG in the UK

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Also on home.kpmg

Rewards and Benefits

This page is concerned with all of the elements that make up an employee's overall reward package - how that is benchmarked, structured, designed and delivered. 

We focus not only on the regulatory environment in the UK - as it impacts the tax/NIC efficiency of certain benefits, e.g. cash and share based incentive schemes, pensions, company cars, holiday, mileage allowances, etc. - but also on providing insight around governance and regulation affecting decisions around reward. We also consider issues such as Total Reward and Flexible Benefits as ways of constructing and communicating reward to employees.

If you want to know more, or would like us to consider any particular topics, please get in touch.

Articles

Why Employee Ownership Day 2020 is more purposeful than ever

We look at why the employee ownership business model is appealing as employers seek to navigate a ‘new normal’

Remuneration committees - Navigating through the impact of COVID-19

What does COVID-19 mean for Boards and Remuneration committees thinking about the 2020 performance year?

KPMG’s Guide to Directors’ Remuneration 2019

How FTSE 350 companies are setting salary, pension, bonus and long-term incentives of executive directors, and non-executive director fees.

Enterprise Management Incentives (EMI) – are you at risk?

What can be done to avoid companies and their employees losing EMI tax advantages?

Executive remuneration – the Investment Association (IA) updates its Principles

Our summary of the key highlights and changes to the IA’s Principles of Remuneration and their focus areas for 2020.

Reporting 'net settled' employee share awards

HMRC has clarified how net settled employee share awards should be reported. What does this mean for employers?

Off-payroll working reforms from April 2020 – HMRC publishes new and updated guidance

HMRC has published new and updated guidance to support implementation of the reformed off-payroll working rules from April 2020.

Scottish housing associations: a new off-payroll working regime from November

Registered social landlords in Scotland must apply the public sector off-payroll working rules from 11 November 2019.

Cycle to work is changing – what does this mean for you?

The Department for Transport (DfT) has updated its guidance on cycle to work schemes – this is what you need to know.

Fixing share plan payroll problems

Completing your annual share plan returns might have highlighted payroll errors – how should these be corrected?

Executive rewards: Paying for success – an update

The Government’s response to the BEIS committee’s report on executive reward has been published.

Employee Ownership Day 2019 - What is it all about? 

As businesses consider succession planning choices we look at the merits and challenges of employee ownership.

Employee share plan reporting 2018/19: Are you ready for the deadline?

The 2019/19 Employment Related Securities (ERS) annual returns should be filed on or before 6 July 2019.

Our guide to executive remuneration in AIM listed companies

We provide a wide ranging guide on executive remuneration practices in AIM listed companies.

Employee share plan reporting 2018/19: what should you do to prepare?

There are steps employers can take now to plan ahead of the reporting deadline and avoid last minute issues.

KPMG's Guide to Directors' Remuneration 2018

A broad overview of executive directors’ remuneration in FTSE 350 companies.

Brexit Issues for Share Plans

What happens to awards of share plans by UK companies in the lead up to and following Brexit.  

New Executive Pay Guidelines for listed companies

The Investment Association (IA) has updated its executive pay guidelines ahead of the 2019 AGM season.

Budget 2018: Entrepreneurs’ Relief (ER) changes and management equity

The Budget announced changes to ER – this is what management teams and investors need to know.

Growth Securities Ownership Plans (GSOPs) – lead cases designated for litigation

The First Tier Tribunal (FTT) has specified two appeals against HMRC assessments as lead cases for GSOP litigation

Executive remuneration and the new Corporate Governance Code

The new Code should be considered in relation to current changes to remuneration policy.

HMRC publishes update on employee share plans

HMRC has published further guidance on EMI working time declarations, and on deferring monthly SAYE savings

Enterprise Management Incentives (EMI) – HMRC evaluates the commercial impact

HMRC has published research that evaluates how tax advantaged EMI options are delivering for businesses.

Enterprise Management Incentives (EMI) – HMRC confirms tax treatment

HMRC has confirmed the tax treatment of EMI options granted between 6 April and 15 May 2018.

Tribunal confirms ‘base cost’ of shares acquired under employee options

The ‘market value’ rule does not apply to shares acquired on the exercise of employee share options which may be settled in cash.

Enterprise Management Incentives (EMI)

The European Commission announced on 15 May 2018 that is has renewed state aid approval of the EMI regime.

Enterprise Management Incentives (EMI) - EU State Aid approval expires

Companies should consider granting EMI options on or before 6 April 2018, or deferring grants until State Aid approval has been renewed.

Employment-Related Securities (ERS) annual reporting 2017/18

ERS annual returns for 2017/18 should be filed online on or before 6 July 2018. HMRC ERS Online Services will accept returns only from 6 April, but employers should review the information required now in order to plan ahead of the reporting deadline.

Government announces extension to childcare voucher schemes

The Education Secretary, Damian Hinds, announced on 13 March that employers can continue to offer CCV schemes to new entrants for a further six months.

GAAR Advisory Panel publishes opinion on employee incentive arrangement

The General Anti-Abuse Rule (GAAR) allows HMRC to counteract tax advantages that arise from ‘abusive’ arrangements. For these purposes, arrangements are ‘abusive’ if they cannot ‘reasonably be regarded as a reasonable course of action in relation to the relevant tax provisions’.

Enterprise Management Incentives (EMI) – do you need to take action?

Some employers will need to take steps now to protect the tax advantaged status of their employees’ EMI options

 

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KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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