Download a PDF of the Salary sacrifice company cars supplement
Editor’s comment: Debi O’Donovan, editor, Employee Benefits magazine:
Making the most of tax breaks on certain benefits has been a winner among employers in recent years.
This, coupled with salary sacrifice arrangements to allow even more staff to benefit from tax breaks, has become extremely popular across UK organisations.
To date, much of the focus has been on tax breaks on benefits such as pensions, bikes-to-work schemes and childcare vouchers. Now, however, with the introduction of lower benefit-in-kind taxation levels for environmentally-friendly cars, we are seeing salary sacrifice arrangements around company cars creating great interest among many employers.
The potential savings to be made by both employer and employee on this high-ticket price item make it particularly attractive.
In this easy-to-read guide, we aim to spell out what you need to know when embarking on a decision to implement a salary sacrifice arrangement for company cars.
We hope this guide will arm you with the facts, questions and ideas you will need when speaking to the experts in the field, who can sometimes forget how complex the subject of tax and cars can be to anyone new to the area.