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From April 2017 an employer can pay for £500 worth of pensions advice for an Employee, and there will be no benefit in kind on the employee.

The precise details are:

  • Exemption on the first £500 of Employer arranged or financed pension advice each tax year
  • Advice must either be available to all employees (or all of a class of employees, eg on one site) or to a specific employee due to age or health

This will be of interest to both

  • Employers seeking to provide tax efficient remuneration options to and / or to ensure staff have access to independent pensions advice
  • Family companies where the only staff are the family, in so far as the “all employees” qualifier can then be easily met

Further details on HM Government website