Don’t know your HRIS from your HRMS? Discover the meaning of the latest UK payroll and HR terms and abbreviations with this free glossary.
VAT Value-added tax or VAT is a tax added to products and services by UK businesses. You must be VAT registered if your taxed turnover is over a certain threshold. VAT thresholds and rates can be changed by the UK Government.
Voluntary benefits Voluntary benefits are goods or services provided at a discounted rate to staff, who then pay for it through a salary deduction. Examples include health insurance, dental treatments and wellness and lifestyle benefits.