1 April 2026 1) National Minimum Wage From 1 April 2026, national minimum wage increases will take effect as follows:- Minimum Wage change Apprentices Increase from £7.55 to £8 per hour Under 18 years old Increase from £7.55 to £8
More about Annual changes to compensation limits, statutory payments and National Minimum WageBig picture Prior to 6 April 2027, the unused pension pots and death benefits of registered pension scheme members usually escape IHT where the scheme trustees have discretion over choice of the pension beneficiaries. The bad news is that, even
More about Inheritance Tax on Pension death benefits – understanding the new IHT regimeDue to the statistics on cancer diagnoses, HR professionals are likely to face situations where an employee or worker discloses a cancer diagnosis and / or requires support in dealing with the same. Treatment can be time consuming and intensive
More about Reflecting on World Cancer Day and how employers can support employees living with cancerLike a Spring garden, pension developments are growing apace: the Pension Schemes Bill is moving rapidly through Parliament and Royal Assent may be in March /April. Many of the provisions (but not all, see our Virgin Media article below) will
More about Pensions Compass – February 2026Key Points The Pension Schemes Bill (2025) is the legislative vehicle for the Virgin Media remediation provisions, which will take effect immediately on Royal Assent. The Bill introduces a statutory process enabling trustees to retrospectively validate historic amendments that may
More about Part 1 – Virgin Media: an updateAs employment practices evolve, landed estates may benefit from reconsidering their approach to funding retirement accommodation, and instead pay enhanced contributions into their employees’ pension schemes. This alternative may offer the opportunity for superior investment returns and tax efficiencies compared
More about Part 2 – Should landed estates opt for enhanced employer contributions?Background The Scheme’s liabilities were secured by way of a buy-in policy. The policy was then reinsured back‑to‑back with a captive reinsurer within the employer group under the ‘PenCap II’ structure, with a fronting insurer interposed between the trustee and
More about Part 3 – Buy ins, buy outs and surplus – lessons from Coca ColaKey Points The final guidance deadlines for pensions dashboards are fast approaching, with all UK occupational and personal pension schemes of 100+ relevant members required to connect by 31 October 2026. Failure to connect can result in significant regulatory fines.
More about Part 4 – Pensions Dashboards: a dash to the finishing line?Inheritance Tax And Certain Pension Benefits First and foremost, Inheritance Tax (IHT) – where are we now? The proposed new IHT legislation in Finance (No 2) Bill published on 4 December 2025 is making its way in Parliament. It is
More about Part 5 – Tax roundupPARLIAMENT Effective Date Effect Bills (and Acts not yet in force) National Insurance Contributions (Employer Pension Contributions) Bill 6 April 2026 (effect from 6 April 2029) The Bill empowers the making of Regulations, so that with effect from
More about Part 6 – Pensions Ready Reckoner