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HMRC have issued a consultancy paper regarding arrangements for Salary Sacrifice

04 October 2016

HMRC have issued a consultancy paper regarding arrangements for Salary Sacrifice

As many of you will be aware, HMRC have issued a consultancy paper regarding arrangements for Salary Sacrifice. Currently, this includes company cars, and could have the implication that the taxable benefit incurred by the driver of a salary sacrifice car will be the higher of the BIK calculated as at present, and the actual amount of salary sacrificed. This could result in a significant increase in tax liability, particularly for those drivers who have deliberately chosen low emitting vehicles to benefit from low BIK rates. If this consultation paper is ratified this... Read full article

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