Employers should 'take advantage' of annual tax-free allowance of £500 per employee for financial advice and guidance
The latest Office of National Statistics (ONS) Labour Market figures have highlighted the growing need for employers to provide financial wellness advice and guidance to their staff. According to the ONS, under-35s accounted for 90% of employment growth in the last quarter, while 70% of employees under 34 require regular borrowing to meet their financial obligations. In light of the figures, employee benefits consultancy LEBC Group believes employers have an increasing duty to factor financial...
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