The Employer-Financed Retirement Benefits (Excluded Benefits for Tax Purposes) Regulations 2007 came into force on 8 January 2008. These regulations list the non-cash benefits provided under an employer-financed retirement benefit scheme (EFRBS) by employers to their retired former employees and their families which are to be excluded from taxation.

These exclusions broadly relate to provision of accommodation, welfare counselling, recreational benefits, annual parties and equipment for disabled former employees. Exclusions also relate to advice on the writing of wills and non-cash benefits provided in connection with a termination of employment (such as retirement) that took place before 6 April 1998.

The exclusions will be backdated to apply with effect from 6 April 2006 (to apply to the tax year 2006/07 and subsequent years.