Salary Sacrifice is Changing. What do you Need to Do Now?
If your employees buy benefits through Flexible or Voluntary Benefits schemes using Salary Sacrifice, you may be affected by changes announced in the Autumn Statement.
Following the Autumn Statement, what do employers need to know to prepare for the potential impact on their employee benefits?
From April 2017, employees who give up salary in return for benefits will pay the same tax as the majority of people who buy the same benefits out of their post-tax income. This means there is a vast range of employee benefits which will have their tax advantages removed.
In this issue, we clarify the steps employers need to take to prepare for the changes that may impact their Salary Sacrifice arrangements:
Arthur J. Gallagher | Business Without Barriers™