Monday, November 20, 2017

Government changes to salary sacrifice schemes

In the Autumn Statement to Parliament on 23rd November 2016, the Chancellor Philip Hammond announced that the current tax and employer National Insurance advantages for some salary sacrifice schemes will be removed from April 2017.

The Workplace Parking Charge (WPC) scheme will be impacted by these changes.

WPC scheme members who pay via salary sacrifice will continue to receive tax and National Insurance benefits until 31st March 2018.

The WPC team are in the process of developing a scheme for new applicants that will not benefit from salary sacrifice which it is hoped will be in place from 1st April 2017. Further information will be provided in due course.