Employee benefits; pitfalls to avoid

Employee recruitment and retention remains challenging for employers and offering an attractive package of benefits can give employers an edge. A wide range of benefits can be offered, including buying or selling annual leave; reduced gym membership; private medical insurance; critical illness insurance and retail discounts or vouchers. ‘Employers need to take care with employee benefits as the rules around different benefits can be complex, and there are often unanticipated knock-on effects,’ explains Kalpesh Nakeshree, Head of Employment Law with Ware & Kay in York & Wetherby.  He outlines the key pitfalls to be aware of and explores the Government’s cycle to work scheme, by way of a practical example. Benefits of little value Although it may seem obvious, employers need to make sure that what they offer remains valuable to their particular workforce. Employees looking…

Seeing the wood for the trees on investment

Can you help the environment and save some tax? Laura Schofield from Ware & Kay Solicitors considers inheritance tax planning and woodlands. Brief inheritance tax position Inheritance Tax is a tax on the estate of someone who has died. Inheritance tax can be complex but the rate of tax is 40%, above the ‘nil rate band’ on which there is no inheritance tax to pay – this band depends on the individual’s family circumstances and assets.  Example       Bob has never married and has no children.  When he dies, his estate is worth £1,500,000.  £1,500,000 less £325,000 = £1,175,000 subject to IHT @ 40%  = £470,000 tax to pay However, on top of the nil rate band there are other reliefs and exemptions that can, with careful planning, be used during lifetime or in a Will to…

Resolving a family dispute over choice of school

As a parent you will always strive to do what is best for your children, but for separated parents this can sometimes lead to disagreement when what is best in one parent’s eyes does not align with the other parent’s view.  ‘While education is undoubtably an important factor for a child’s development and welfare, and for their future success and happiness, it can also be the subject of a family dispute if parents disagree over where a child should attend school,’ says Robert Bellhouse family law expert at Ware & Kay in York & Wetherby. Parents may have had different experiences of education, with each feeling that their schooling worked for them and will be best for their child.  Disagreements can arise over nursery, primary, and secondary schooling or whether your children should be home-schooled.  It…

Don’t let your diversification ambitions be thwarted by an agricultural land restriction

Many farmers have experienced hardship in the recent past, thanks largely to the combined effects of Brexit and Covid-19. Little wonder then that many are looking to use their land in different ways to boost dwindling profits. There are several ways you can diversify to make more efficient use of your agricultural land, but, before you embark on a diversification project you need to ensure your ambitions will not be thwarted by a restriction on change of use. Agricultural ties If you are considering selling a house on your land that has an agricultural tie (or an agricultural occupancy condition), it may make the property harder to sell. Under the Town and Country Planning Act 1971, such ties usually require that ‘the occupation of the property is limited to a person solely or mainly employed, or…