View more on these topics

Gov makes medical check-ups for employees tax-free

Health screenings and medical check-ups for employees will be exempt from taxation as of August 14th.

The Government has amended income tax regulations, which required employees to declare health screenings and medical check-ups as a ‘benefit in kind’ and pay income tax on them.

But soon, if performed as an arrangement between employer and employee, medicals will be tax-free.

Association of Britich Insurers director of general insurance Nick Starling says: “We have been campaigning for the Government to recognise the important role employers can play in improving the health of the working population. It is much better for individuals, companies and society if people are healthy, active and productive.

“This good move is a step in the right direction. It should encourage many employers to provide this kind of health screening benefit to their employees. The insurance industry is already working with employers, employees and the Government to find new ways to improve workplace health and rehabilitation, and we hope that further initiatives like today’s announcement will flow from this work.”

Recommended

FSA confirms Nationwide and Portman merger

The Financial Services Authority has confirmed the proposed merger of the Portman Building Society to the Nationwide Building Society. The regulator received 22 written representations and three people made oral representations at the hearing held in Bournemouth on June 7.

Whitechurch launches mortgage club

Whitechurch Network is launching a mortgage club for members in conjunction with 1st Source Direct. Managing director Ian McIver says he has recognised the value of controlling distribution through a single channel but feels the logistics and administration often needed in writing such business in-house are more onerous than using an outsourced company. He says […]

RDR battle lines are drawn

The FSA’s practitioner panel has waded into the future of commission debate suggesting one of the key foundations of the retail distribution review may not be as clear cut as the regulator suggests.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com