Non-cash benefits provided to employees from employment, which are subject to UK tax regulations, often reported on form P11D.
Group Disability Insurance provides coverage for a group of employees, offering monthly benefits if members are unable to perform their job functions due to illness or accident. Benefits are typically limited to a specified duration and capped at a percentage of pre-disability earnings or a flat dollar amount, whichever is lower.
Longevity pay refers to salary or wages that are based on an employee’s seniority or length of service with an organization. The greater the length of service, the greater the longevity pay. It may also include bonuses for remaining on a job beyond a certain period.
Perks are perquisites that come in the form of additional benefits beside regular remuneration, primarily expected by senior employees such as company cars, private health insurance, and gym memberships.
A mandated benefit where employers provide weekly payments to employees unable to work due to sickness for a specified period, originally subject to partial government reimbursement.
