Contents
Time for employer’s to pay pensions Is another credit crunch around the corner? Changes to Furnished Holiday Lettings IHT planning Client Profile – Keep it simple Double up on IHT relief Securing tenants in an uncertain economic climate The sale of county farms by Councils Drink for free at your local! What is wrong with self invested Pensions? What comes after oil? Renewable Energy – when communities bite back Clearing the commodity price confusion? Old Mill celebrate the Best in the West Changes to capital allowances –maximise the relief now
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Time for employer’s to pay pensions for their farm workers
Steve Woodham, Pensions Manager
Recent proposals by the Coalition Government will, if legislated, require employers to contribute up to 3% of a worker’s salary in to a pension fund in coming years.
Contributions will be required for all employees including those working part time, irrespective of the level of earnings. The employee will be required to match the contribution and there will be a third element of benefit being paid in by the Government. There is no de minimus number of employees with
regard to this rule and therefore even an employer employing one part time employee will find that they will be subject to the regulation and have to suffer the additional cost. Whether that is a burden will depend on how you value your farm workers. Some businesses are already making pension contributions on behalf of key employees and this may well prove another way to satisfy the remuneration of staff. However many will doubtless see it as just an additional tax on jobs which will result in extra unemployment over time.
Do take specific financial investment advice when considering pensions as the benefits can be as great as the restrictions are punitive.
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