[fusion_builder_container hundred_percent=”no” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” overlay_color=”” video_preview_image=”” border_color=”” border_style=”solid” padding_top=”” padding_bottom=”” padding_left=”” padding_right=”” type=”legacy”][fusion_builder_row][fusion_builder_column type=”1_1″ layout=”1_1″ background_position=”left top” background_color=”” border_color=”” border_style=”solid” border_position=”all” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” center_content=”no” last=”true” min_height=”” hover_type=”none” link=”” border_sizes_top=”” border_sizes_bottom=”” border_sizes_left=”” border_sizes_right=”” first=”true”][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” content_alignment_medium=”” content_alignment_small=”” content_alignment=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” class=”” id=”” font_size=”” fusion_font_family_text_font=”” fusion_font_variant_text_font=”” line_height=”” letter_spacing=”” text_color=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]
The Government has announced that it has fulfilled a promise made at this year’s Budget to initiate consultations into salary sacrifice schemes, including those that cover cars.
This is one of three areas affecting company cars that the Government currently has under scrutiny. The other two areas under review are changes in lease accounting and the balance sheet treatment of assets including company cars, and the tax treatment of ultra-low emission vehicles (ULEVs).
Why is the Government doing this?
At this year’s Budget Statement in March, the Government said that it would look at the range of Benefits-in-Kind (BIK) that attract income tax and National Insurance Contributions (NIC) advantages when provided as part of salary sacrifice arrangements.
The Exchequer has been concerned that it has missed out on a substantial amount of tax revenue as a result of such salary sacrifice schemes, where employees surrender a portion of their salaries in return for a benefit such as a company car. And it has a noted a 33% increase in such schemes between 2009/10 and 2014/15.
As a result, Her Majesty’s Revenue & Customs (HMRC) has announced a 10-week consultation period that will be open until 19 October to which all interested parties are invited to make written representations.
The purpose of the consultation is to explore potential impacts on employers and employees should the Government decide to change the way the benefits code applies when a Benefit-in-Kind is provided in conjunction with a salary sacrifice or flexible benefit scheme.
The Government is keen to seek views from a wide range of stakeholders, including employers who operate salary sacrifice and flexible benefit arrangements, their representatives, trade organisations and any other interested parties.
What is the consultation looking at?
The consultation is looking at proposed changes to tax legislation so that, when a benefit-in-kind is provided through salary sacrifice, it will be chargeable to income tax and Class 1A employer NICs.
Normally, such as benefit would be exempt from income tax and NICs, although BIK taxation would be payable on the notional value of the benefit.
The consultation suggests that the income tax and NIC should be charged at the greater of:
• The amount of salary sacrificed or
• The cash equivalent set out in statute (if any).
This would mean that where the normal taxable value of the benefit is higher than the amount of salary sacrificed, it would be subject to income tax and Class 1A NICs in the normal way.
Any changes to tax legislation required would be introduced from April next year.
What has the response been to the proposals?
Salary sacrifice providers, including Maxxia, have expressed concerns over the “unfair impact” on basic rate tax payers.
And they have highlighted that charging National Insurance on the Benefit-In-Kind on a company car has a much bigger impact on employees paying the basic tax rate than it does on those paying the higher rate of income tax.
Meanwhile, research by the trade body of the leasing and rental industries, the BVRLA, has shown that 80% of salary sacrifice drivers are basic rate tax payers, many of them public sector workers who have had to struggle with long-term pay freezes over the last few years and use salary sacrifice schemes to make their pay go further.
In a statement, the BVRLA said “the vast majority of staff receiving this valuable perk are in the basic income tax bracket and salary sacrifice schemes provide them with a unique opportunity to drive a newer, cleaner and safer car than they would otherwise.”
Numerous benefits of salary sacrifice cars
Providers have also highlighted the numerous benefits that cars provided under salary sacrifice car schemes deliver, especially when compared to employees’ own cars.
Research has shown that the very nature of the schemes encourages the uptake of cleaner, lower carbon dioxide emitting cars as they attract lower tax bills, thus helping the Government hit its clean air targets.
Some providers have also pointed out that the proposed changes may not even address concerns over missing out on tax revenues, as cars are usually tax positive under a salary sacrifice scheme and benefit the economy in numerous other ways.
Research carried out by leading accountants, PwC, has highlighted that many salary sacrifice cars are net tax contributors, due to the additional revenue from VAT on additional services, lease agreements and disposal costs.
At the same time, British-built models have proved popular in many salary sacrifice schemes, thus helping the UK economy. And all cars are sourced through UK franchised dealers, further supporting British jobs and contributing significant revenue to the economy.
The consensus from providers is that new car sales generated by salary sacrifice schemes give a valuable boost to the UK economy and provide a more sustainable alternative to the older, more polluting grey fleet vehicles that staff might otherwise use for business travel.
Duty of care concerns overcome
Many providers are of the firm opinion that a salary sacrifice car scheme helps to mitigate the risk associated with employees who are given a cash allowance in lieu of a company car.
Numerous studies have shown that cash allowance drivers often opt to choose older vehicles as they see their acquisition as being made with their own money and therefore do not opt for brand new cars.
Such so-called ‘grey fleet’ vehicles are often not serviced and maintained as regularly as company-provided vehicles, nor are they as well looked after.
As a result, they may pose a potential threat from a duty of care perspective, as the company can be held liable if any serious accidents should occur in such vehicles if they are being used on company business.
Conversely, a salary sacrifice car scheme provides cash allowance drivers with the opportunity to select a new, modern car incorporating the latest safety technology with low emissions, high fuel efficiency and regular servicing.
As a result, this helps to not only improve driver safety but allows employers to meet their duty of care responsibilities.
What happens next?
Interested parties have until the middle of October to make submissions in writing to HMRC, detailing what they believe the impact of the proposed changes would be.
Maxxia will be playing a full part in the consultation process and believes that salary sacrifice car schemes have a number of clear benefits for employees and employers alike, and will be responding accordingly.
If you need more information or to discuss options for an employee car scheme, please get in touch.
[/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]
Ahaa, its pleasant discussion about this article here at this weblog, I have read all that, so now
me also commenting at this place.
Hello, i think that i saw you visited my blog thus i came to ?return the favor?.I am trying
to find things to improve my web site!I suppose
its ok to use some of your ideas!!
There’s definately a great deal to find out about
this issue. I really like all the points you’ve made.
What’s up to every , because I am really eager of reading this website’s post to
be updated regularly. It contains pleasant material.
I got this site from my buddy who shared with me about this website
and at the moment this time I am visiting
this website and reading very informative posts at this place.
You’re so awesome! I don’t think I’ve truly read a single thing like
that before. So great to discover someone with a few unique
thoughts on this topic. Really.. thank you for starting
this up. This site is something that is needed on the
internet, someone with a bit of originality!
For newest news you have to pay a visit internet and on web I found this
site as a best web site for hottest updates.
I’ve been exploring for a little for any high quality articles or weblog posts on this sort of
area . Exploring in Yahoo I at last stumbled
upon this web site. Studying this information So i am glad to exhibit that I’ve a
very just right uncanny feeling I found out just what I
needed. I so much definitely will make sure to don?t put out of your mind this site
and provides it a glance regularly.
I seriously love your blog.. Pleasant colors & theme.
Did you make this web site yourself? Please reply back as I’m planning to create my own site and would love to learn where you got this from or just what the theme is named.
Cheers!
When I originally commented I clicked the “Notify me when new comments are added” checkbox and now each time a
comment is added I get several emails with the same comment.
Is there any way you can remove me from that service?
Bless you!
I don’t know if it’s just me or if perhaps everybody else experiencing issues with your blog.
It appears like some of the written text in your posts are running off the screen. Can somebody else please
provide feedback and let me know if this is happening to them too?
This could be a problem with my internet browser because I’ve had this happen previously.
Many thanks
Thank you, I have just been searching for information approximately this subject for a while and yours is the best I’ve came upon till now.
But, what concerning the bottom line? Are you certain concerning the
supply?
Howdy I am so thrilled I found your web site, I really found you by mistake, while I
was looking on Digg for something else, Anyhow I am here now and would just like to say thanks
for a remarkable post and a all round enjoyable blog (I also
love the theme/design), I don’t have time to look over
it all at the minute but I have bookmarked it and also added in your RSS
feeds, so when I have time I will be back to read a lot more,
Please do keep up the superb jo.
I have been surfing online greater than three hours
these days, yet I never found any attention-grabbing article like yours.
It is pretty value sufficient for me. In my view, if all
webmasters and bloggers made excellent content as you did,
the net will be much more useful than ever before.
I pay a quick visit day-to-day some blogs and blogs to
read articles or reviews, but this webpage provides feature based content.
Thanks for finally talking about > HMRC Consultation into Salary Sacrifice Schemes – Maxxia < Loved it!
Hi I am so delighted I found your website, I really found you by accident, while I was researching
on Bing for something else, Nonetheless I am here
now and would just like to say thank you for a marvelous post and a all round interesting blog (I also love the theme/design), I don’t have time to go
through it all at the minute but I have bookmarked it and also included
your RSS feeds, so when I have time I will be back to read
a great deal more, Please do keep up the great job.
I want to to thank you for this fantastic read!! I certainly loved
every bit of it. I have got you book marked to check out new stuff you post…
Paragraph writing is also a excitement, if you be familiar with afterward you can write otherwise it is complex to write.
We are a bunch of volunteers and starting a brand new scheme
in our community. Your web site offered us with helpful info to work on. You’ve done an impressive job and our entire group will probably be thankful
to you.
This design is steller! You certainly know how to keep a reader amused.
Between your wit and your videos, I was almost moved to
start my own blog (well, almost…HaHa!) Great job.
I really loved what you had to say, and more than that, how you presented it.
Too cool!
This is my first time pay a quick visit at here and i am truly impressed to read everthing at alone place.
Hmm it seems like your blog ate my first comment (it was extremely long) so
I guess I’ll just sum it up what I had written and say,
I’m thoroughly enjoying your blog. I as well am an aspiring blog writer but
I’m still new to the whole thing. Do you have any points
for first-time blog writers? I’d definitely appreciate it.
I have read several just right stuff here. Definitely
price bookmarking for revisiting. I surprise how a lot
attempt you put to make this sort of magnificent informative website.
excellent publish, very informative. I’m wondering why the opposite specialists
of this sector do not notice this. You must continue your writing.
I am sure, you’ve a great readers’ base already!
Its such as you learn my thoughts! You seem to know
a lot approximately this, such as you wrote the e-book in it or something.
I think that you just can do with some p.c. to force the message house a bit, however instead of that, that is great blog.
A great read. I will definitely be back.
Hey there! I know this is kinda off topic however I’d figured
I’d ask. Would you be interested in exchanging links or
maybe guest authoring a blog article or vice-versa? My blog addresses a lot of the same subjects as yours and
I think we could greatly benefit from each other. If you happen to be interested feel free
to send me an email. I look forward to hearing from you! Awesome blog
by the way!
Wow, marvelous blog layout! How long have you been blogging for?
you made blogging look easy. The overall look of your site is excellent, let alone the content!
Hello colleagues, how is all, and what you want to say about this paragraph, in my view its actually amazing designed for
me.
Hey there are using WordPress for your site platform?
I’m new to the blog world but I’m trying to get started and create my own. Do you need any html coding knowledge to make your
own blog? Any help would be really appreciated!
Hi there it’s me, I am also visiting this web site regularly, this website is in fact good
and the people are in fact sharing pleasant thoughts.
Thanks for sharing your thoughts on soma muscle relaxer.
Regards
Yes! Finally something about website.
Hello terrific blog! Does running a blog such as this require a lot of
work? I’ve absolutely no expertise in computer programming but I was hoping to start my own blog soon. Anyway,
should you have any recommendations or techniques for new blog owners please share.
I know this is off topic nevertheless I just wanted to ask.
Kudos!
I know this if off topic but I’m looking into starting
my own blog and was wondering what all is needed to get setup?
I’m assuming having a blog like yours would cost a pretty penny?
I’m not very internet savvy so I’m not 100% sure.
Any tips or advice would be greatly appreciated. Kudos
bookmarked!!, I love your blog!
I every time spent my half an hour to read this website’s articles or reviews all the time along with a mug of coffee.
This is very interesting, You are a very skilled blogger.
I have joined your feed and look forward to seeking more of your
wonderful post. Also, I’ve shared your web site in my social
networks!
great issues altogether, you just gained a new reader.
What might you recommend in regards to your submit that you just made some days
in the past? Any sure?
I’m really impressed with your writing skills and also
with the layout on your blog. Is this a paid theme or did you modify it yourself?
Anyway keep up the nice quality writing, it is rare
to see a nice blog like this one nowadays.
I’m truly enjoying the design and layout of your blog.
It’s a very easy on the eyes which makes it much more enjoyable for me to come here
and visit more often. Did you hire out a developer to create your
theme? Excellent work!
É a primeira vez que vejo Seu website e já me sinto encantado, Estive a procura de tema
de qualidade No entanto está difícil de achar Isso pela web.
Agradeço de criar este artigo tuas ideias.
I used to be able to find good info from your articles.
It is truly a great and useful piece of info.
I’m satisfied that you just shared this useful information with us.
Please stay us up to date like this. Thanks for sharing.
Fantastic website. Plenty of helpful info here. I’m sending it to some
buddies ans also sharing in delicious. And obviously, thank you for your sweat!
um artigo realmente muito interessante . É ótimo
quando encontramos material deste nível para leitura .
Obrigado pelo artigo . Abraços
Quality posts is the important to interest the users to pay a visit the web page,
that’s what this website is providing.
Hello There. I found your blog using msn. This is a really well written article.
I will be sure to bookmark it and come back to read
more of your useful info. Thanks for the post.
I will certainly comeback.
Hi Dear, are you really visiting this website regularly, if so after that you will absolutely take nice experience.
Currently it looks like Drupal is the top blogging platform out there right now.
(from what I’ve read) Is that what you are using on your blog?
Hey there! I know this is kinda off topic but I was wondering which
blog platform are you using for this website?
I’m getting fed up of WordPress because I’ve had issues with hackers and I’m
looking at alternatives for another platform. I would be great if you
could point me in the direction of a good platform.
Hurrah! Finally I got a weblog from where I be capable of
really take useful data regarding my study and knowledge.
Hello Dear, are you genuinely visiting this website regularly, if so then you will absolutely take
pleasant knowledge.
Hello there! I know this is kinda off topic nevertheless I’d figured I’d ask.
Would you be interested in trading links or maybe guest writing a blog post or vice-versa?
My website discusses a lot of the same subjects as yours and
I think we could greatly benefit from each other. If you happen to be interested feel free to send me an email.
I look forward to hearing from you! Awesome blog by
the way!
What a material of un-ambiguity and preserveness of valuable know-how regarding unexpected feelings.
It’s going to be finish of mine day, except before finish I am reading this great piece of writing to improve my know-how.
I’m not that much of a internet reader to be honest but your
sites really nice, keep it up! I’ll go ahead and bookmark your site to come back down the road.
Many thanks
I am extremely impressed with your writing skills and also with
the layout on your weblog. Is this a paid theme or did you modify it yourself?
Anyway keep up the excellent quality writing, it’s rare to see a great blog
like this one these days.
I am genuinely delighted to read this webpage posts which includes tons of valuable information, thanks for
providing such statistics.
With havin so much content do you ever run into any issues
of plagorism or copyright violation? My blog has a lot of unique content I’ve either authored myself or
outsourced but it seems a lot of it is popping it up all over the web without my permission. Do you know any techniques
to help reduce content from being ripped off?
I’d genuinely appreciate it.
Hello everyone, it’s my first go to see at this web page,
and piece of writing is genuinely fruitful designed for me, keep up posting such
posts.
Good day! I could have sworn I’ve been to this site before but after looking at many of
the posts I realized it’s new to me. Regardless, I’m certainly pleased I stumbled
upon it and I’ll be book-marking it and checking back frequently!
If you are going for best contents like me, only go to see this website every day for the
reason that it offers feature contents, thanks
I know this site provides quality dependent articles or
reviews and additional material, is there any other website which offers these stuff in quality?
Pretty nice post. I just stumbled upon your weblog and wanted to say that I
have really enjoyed surfing around your blog posts.
In any case I’ll be subscribing to your rss feed and I
hope you write again soon!
Nos dias de hoje, em torno de 3% dos adultos salutar diagnosticados
com o transtorno, sendo enorme parte deles mulheres.
Faça a ah Roda da Alimentação e conheça em
grau superior a respeito de você e como assistir os seus metas.
Hi Dear, are you truly visiting this site regularly, if
so then you will definitely get fastidious knowledge.
Asking questions are in fact nice thing if you are not understanding anything entirely, but this post gives pleasant understanding yet.
Hey there! Do you know if they make any plugins to help with SEO?
I’m trying to get my blog to rank for some
targeted keywords but I’m not seeing very
good gains. If you know of any please share. Thank you!
Hmm is anyone else experiencing problems with the pictures
on this blog loading? I’m trying to figure out if its a problem on my
end or if it’s the blog. Any feedback would be greatly appreciated.
Really no matter if someone doesn’t know afterward its up to other users that they
will assist, so here it takes place.
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates.
I’ve been looking for a plug-in like this for
quite some time and was hoping maybe you would have some experience with something like this.
Please let me know if you run into anything. I truly enjoy reading your blog and I
look forward to your new updates.
Superb, what a webpage it is! This webpage presents helpful information to us,
keep it up.
Hello! This is my first visit to your blog!
We are a collection of volunteers and starting a new
project in a community in the same niche. Your blog provided us useful information to work on. You have done
a wonderful job!
Hello! I could have sworn I’ve visited your blog before but after looking at
many of the articles I realized it’s new to me.
Anyhow, I’m certainly happy I stumbled upon it and I’ll be book-marking it and checking back often!
Thanks designed for sharing such a pleasant opinion, post is fastidious, thats
why i have read it fully
Having read this I thought it was very informative.
I appreciate you finding the time and energy to put this informative article
together. I once again find myself spending a significant amount of time both reading and
leaving comments. But so what, it was still worthwhile!
Ahaa, its nice discussion on the topic of this paragraph at this place
at this web site, I have read all that, so now me also commenting here.
Hi there colleagues, its enormous post concerning tutoringand fully
defined, keep it up all the time.
I’m gone to tell my little brother, that he should also pay a quick visit this weblog on regular basis to
take updated from newest gossip.
This piece of writing provides clear idea in support of the new viewers of blogging,
that truly how to do blogging and site-building.
It’s actually a nice and useful piece of info.
I am glad that you simply shared this useful info with us.
Please stay us up to date like this. Thank you for sharing.
What a information of un-ambiguity and preserveness of valuable experience concerning unpredicted feelings.
obviously like your web-site however you need to take a look at the spelling on several
of your posts. A number of them are rife with spelling
issues and I to find it very troublesome to inform the truth however
I’ll surely come back again.
I’m excited to discover this web site. I want
to to thank you for your time for this wonderful read!!
I definitely enjoyed every part of it and i also have you
book marked to look at new stuff on your web site.
Howdy would you mind letting me know which webhost you’re using?
I’ve loaded your blog in 3 different browsers and I must say this blog
loads a lot faster then most. Can you recommend a good hosting provider at a reasonable price?
Thanks a lot, I appreciate it!
This design is steller! You certainly know how to keep a reader entertained.
Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Great job.
I really loved what you had to say, and more than that, how you presented it.
Too cool!
That is a good tip particularly to those fresh to the blogosphere.
Simple but very precise info… Many thanks for sharing this
one. A must read post!
Hey I know this is off topic but I was wondering if you knew of any widgets
I could add to my blog that automatically tweet
my newest twitter updates. I’ve been looking
for a plug-in like this for quite some time
and was hoping maybe you would have some experience with something like this.
Please let me know if you run into anything. I
truly enjoy reading your blog and I look forward to your new updates.
Hello there! Do you know if they make any plugins to safeguard against
hackers? I’m kinda paranoid about losing everything I’ve worked
hard on. Any tips?
Excellent website. Plenty of useful info here.
I’m sending it to several buddies ans also sharing in delicious.
And certainly, thank you in your sweat!
What a stuff of un-ambiguity and preserveness of precious know-how concerning unexpected feelings.
No matter if some one searches for his required
thing, thus he/she wants to be available that in detail, therefore
that thing is maintained over here.
Hi! This is my first visit to your blog! We are
a team of volunteers and starting a new project in a community in the same niche.
Your blog provided us valuable information to work on. You
have done a wonderful job!
Very great post. I simply stumbled upon your weblog and wished
to mention that I’ve really enjoyed browsing your blog posts.
After all I’ll be subscribing for your rss feed
and I hope you write again soon!
Olá como vai ? tenho um blog que trata deste mesmo assunto e adoraria poder replicar este seu
conteúdo nele , fazendo referÊncia e com link para cá .
Você possui interesse ?
This post is really a good one it helps new the web people, who are
wishing for blogging.
Hi there to every one, the contents present at this website are
actually amazing for people experience, well, keep up the nice work fellows.
Hi! Do you use Twitter? I’d like to follow you if that would be okay.
I’m definitely enjoying your blog and look forward
to new updates.
Very soon this web site will be famous amid all
blogging people, due to it’s good articles
Do you have a spam problem on this site; I also am a blogger, and I was wanting to know your situation; we have developed
some nice procedures and we are looking to swap strategies with other folks, why not shoot me an email if interested.
I’m not sure exactly why but this site is loading very slow
for me. Is anyone else having this issue or is it a problem on my end?
I’ll check back later on and see if the problem still exists.
I don’t know whether it’s just me or if everybody else experiencing problems
with your blog. It appears like some of the text within your content are running off
the screen. Can somebody else please provide feedback and let me know if
this is happening to them too? This could be a issue with my
web browser because I’ve had this happen before.
Cheers
When I initially commented I clicked the “Notify me when new comments are added” checkbox and now each
time a comment is added I get three emails with the same comment.
Is there any way you can remove people from that service?
Cheers!
I blog quite often and I really thank you for your information. This article
has truly peaked my interest. I’m going to book mark
your site and keep checking for new details about once
a week. I subscribed to your RSS feed as well.
certainly like your website however you have to test the spelling on quite a
few of your posts. Several of them are rife
with spelling problems and I find it very bothersome to tell the reality nevertheless I will
surely come back again.
You’re so interesting! I don’t suppose I’ve read through anything like this before.
So nice to discover another person with genuine thoughts on this subject.
Seriously.. thanks for starting this up. This website is one thing that is required on the web, someone with a little originality!
I visited many sites but the audio quality for audio
songs current at this web page is truly marvelous.
Sua didática é ótima para fazer conteúdos.
Continue assim, estou vendo todos os artigos do site .
Attractive section of content. I just stumbled upon your site and in accession capital to assert that I acquire actually enjoyed account your blog
posts. Any way I will be subscribing to your augment and even I achievement you access consistently rapidly.
It’s remarkable to go to see this website and reading the views of all friends
concerning this paragraph, while I am also zealous of
getting experience.
Greetings! I know this is somewhat off topic but I was
wondering if you knew where I could find a captcha plugin for my comment form?
I’m using the same blog platform as yours and I’m having
difficulty finding one? Thanks a lot!
Uau esse site é magnífico , gosto de ler seus posts.
Continue o excelente trabalho! Você reconhece que,
muitas pessoas procuram textos sobre isso,
você pode ajudá-los !
Nice post. I was checking constantly this blog and I am impressed!
Very useful info specifically the last part 🙂 I care for such info
a lot. I was looking for this certain info for a long time.
Thank you and good luck.