EBCam Employee Benefits & Independent Financial Advisers

This morning we hosted our second EBChats event, bringing HR, Reward and Benefit professionals together to knowledge share and learn from each other. The hot topics of conversation this morning were: ⬆️ The increase in Employers NIC from 13.8% to 15% 💰The benefit to businesses in using salary sacrifice (and the shock at the number of companies unaware of this or not using it) 🍯 Pensions and the changes announced meaning a persons pension pot will become subject to Inheritance Tax and the impact this may have on Group Life Assurance schemes (all subject to consultation) 🧑🧑🧒Workplace nursery benefits - the benefits and the potential risks 🏥 Health and wellbeing benefits - what’s trending, what’s topical and what do HR and reward people need to be aware of Plus much more! All in the very welcoming Cambridge Novotel Hotels! Thanks to those who were able to join us. We look forward to hosting the next event in the new year. #ebcamemployeebenefits #wellbeing #networking #hr #reward #benefits

We’re halfway through #TalkMoneyWeek and following our earlier post highlighting the importance of LPAs, we wanted to discuss another important talking point; building a strong budgeting & savings habit as a foundation for financial security. Saving is more than setting aside what’s left over; it’s a proactive approach to creating security and freedom. Studies show that people who save regularly feel more confident, are less stressed about money, and can manage unexpected expenses more smoothly. But building this habit can be challenging without a budget in place. Why Saving Matters: ● A savings buffer protects you from unexpected expenses, reducing reliance on credit. ● Regular saving helps you feel in control, leading to greater confidence with your finances. ● Whether it’s a holiday, home purchase, or retirement, a dedicated savings plan can help turn dreams into reality. Here's some tips to Make Saving & Budgeting Easier: ● Track Your Spending or use an app like MoneyHub to log your expenses over the last few months. Understand where your money goes. ● Set Financial Goals and define what you’re saving for—this will keep you motivated. ● Allocate Your Income by dividing your income across categories like bills, savings, essentials, and leisure. ● Review and Adjust Regularly: A budget isn’t static. Adjust it as life changes but keep an eye on your priorities. ● Set up an automatic transfer to your savings each month, even if it’s a small amount. ● If regular saving feels challenging, start with a small amount and increase as you get comfortable. A small, consistent saving habit today can lead to financial peace of mind tomorrow. Let’s make regular saving part of our journey to financial wellbeing, and encourage more conversation around financial topics. #ebcamfinancialplanning #ebcamemployeebenefits #FinancialWellbeing #SavingTips #TalkMoney

On Thursday, we will be hosting our second EBChats breakfast event in Cambridge. This is an event for HR Professionals to come together and knowledge share. We have had two spaces come available to this invite only event which is free to attend. These are being offered on a first come first served basis, please email [email protected] should you wish to join us. #ebcamemployeebenefits #hr #knowledgeshare #network

Monday 4th November marks the start of #TalkMoneyWeek. We’re encouraging you to #DoOneThing next week to help break down barriers around talking about money. Did you know that without a Lasting Power of Attorney (LPA), loved ones may be left unable to make critical medical and financial decisions on your behalf if you’re no longer able to? One of the most important conversations we can have isn’t about finances directly but about the people and future we want to protect. Imagine the emotional & practical stress if your family were forced to go through the courts to gain permission for even the simplest decisions, from managing your bills to making choices about your medical care. An LPA ensures the people you trust can act in your best interests, providing peace of mind and reducing strain on loved ones however, the majority of people don’t have one in place. Let's change that! This week, make the choice to talk to a friend, a partner, or a professional about LPAs. Whether you’re 30, 50, or 70, it’s not about age, it’s about security & dignity. Setting up an LPA could make all the difference in a time of need. You will need to decide which LPAs you need, there are two types: • Health & Welfare, covering decisions about medical care, living arrangements & daily routines. • Property & Financial Affairs, covering financial matters, like bank accounts, paying bills & selling property. You can set up one or both, depending on your needs. You will also need to choose your attorneys; people you trust to act in your best interests, be it family, friends, or professionals. A solicitor can help clarify your options and help guide your decisions, explaining the responsibilities of each role to help you make informed choices. A solicitor can apply for the LPAs on your behalf, keeping you updated with progress. Or, you can choose to apply for the LPAs directly with the Office of the Public Guardian, though we would encourage you to ensure you fully understand the decision you are making before doing so. #DoOneThing and start a conversation about LPAs today... #TalkMoney #TalkMoneyWeek #ebcamemployeebenefits #ebcamfinancialplanning #FinancialWellbeing #LastingPowerofAttorney #ProtectYourFuture

Our 2024 Autumn Budget Summary is now out and can be accessed here: https://lnkd.in/eAgTPYCe Key takeaways are: NATIONAL INSURANCE CONTRIBUTIONS The main rate of class 1 employer national insurance contributions (NICs) will be increased from 13.8% to 15.0% with effect from 6 April 2025 and the secondary threshold at which NICs are payable will be reduced from £9,100 to £5,000. CAPITAL GAINS TAX The main rates of capital gains tax will increase with immediate effect to 18% for non and basic rate taxpayers and 24% for higher and additional rate taxpayers. The rate for business asset disposal relief will rise to 14% for 2025/26 and 18% from 2026/27. INHERITANCE TAX Inheritance tax (IHT) business and agricultural 100% reliefs will be capped at a combined total of £1 million from April 2026. Above that, the rate of tax relief will be 50%. However, the cap will not apply to AIM shares which will just qualify for 50% relief. PENSION FUNDS AND DEATH BENEFITS Unused pension funds and death benefits will form part of a person’s estate for IHT purposes from 6 April 2027. STAMP DUTY ON SECOND HOMES The additional SDLT rate for second homes and buy-to-let properties increases from 3% to 5% from 31 October 2024. The temporary increases in the 0% SDLT band for first time and other property buyers will end on 31 March 2025. VAT ON PRIVATE SCHOOL EDUCATION VAT at 20% will be applied to private school education and boarding services from 1 January 2025. From 1 April 2025, charitable relief for business rates will be withdrawn. ISAs Subscription limits for individual savings accounts (ISAs), Junior ISAs and Lifetime ISAs will be frozen until April 2030 #ebcamemployeebenefits #ebcamfinancialstatements #employeebenefits #pensions #autumnbudget

Today, Chancellor Rachel Reeves delivered Labour's first budget in nearly 15 years, marking a historic moment with significant fiscal changes aimed at restoring economic stability and investing in the future.     With tax-raising measures totalling an additional £40billion, increased minimum wages and potentially significant changes to pensions, we've provided some of the key takeaways below.     However, the devil is always in the detail and once we have had a chance to digest this, our full budget summary will follow via email. If you would like to receive a copy of this, please let us know.     #ebcamfinancialplanning #ebcamemployeebenefits #Budget2024 #LabourBudget

As the sun sets today, we're looking ahead to tomorrow's budget. Rachel Reeves is set to deliver this Labour Government's first budget tomorrow, putting an end to months of speculation over potential tax changes and spending cuts. It seems likely that we will see the announcement of some of the biggest tax rises in recent years. The full details will be announced tomorrow and if you’d like to know how this Budget impacts you, look out for our updates post-Budget. We will be sending a full summary via email on Thursday morning; if you would like to be included in this, please email us using [email protected]. #ebcamfinancialplanning #ebcamemployeebenefits #Autumnbudget2024 

The team at EBCam had a great time on Thursday combining our usual monthly 'coffee & cake' session with pumpkin carving. This seasonal activity was a little messy but great fun. Thank you to Sally who kindly provided homemade millionaires shortbread and flapjacks, they were so delicious she was declared the office's 'star baker'. All the pumpkin designs were great but a special shout out goes to the pumpkin carving competition winner, Simina. #ebcameemployeebenefits #ebcamfinancialplanning #employeewellbeing

Did you know that as many as 1 in 20 people could have a pension they didn't know they had? National Pension Tracing Day on 27th October 2024 aims to help you find lost pensions. It has been estimated that there could be about 3.3 million lost or forgotten pension pots out there, worth an average of £9,500 each. Is it time to pay your pension some attention? Join the #GreatPensionTreasureHunt and find out. For more information see https://lnkd.in/ddM_Mh3Q #ebcamemployeebenefits #ebcamfinancialplanning #pensions #employeebenefits

Thank you to everyone who attended the Ashtons Legal LLP HR Breakfast Events sponsored by EBCam Ltd. Ashtons gave insightful #employmentlaw updates and EBCam discussed the latest trends in #employeebenefits, at these key events in Cambridge, Bury St Edmunds, Ipswich and Norwich. Thank you to Toby Whittacker-Cook for organising and to the speakers at all four locations, Claire Sleep, Emily Dixon Robert Hickford, Tom Beattie, to name but a few. #ebcamemployeebenefits #ebcamfinancialplanning #employeewellbeing