What Is A Salary Sacrifice Car Scheme? A salary sacrifice car is a vehicle leased from a third-party supplier through a partnership with your employer, where an employee opts to sacrifice a portion of their gross salary in exchange for the use of this car. Salary sacrifice works similarly ...
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The scheme works through salary sacrifice so the cost of the car is taken from employee’s gross salary and is spread over a fixed term. Company car tax is payable but you could enjoy significant savings on tax and NI if you opt to take a car with low CO2 emissions. In addition to...
If an employee wants to opt in or out of a salary sacrifice arrangement, you must alter their contract with each change. Your employee’s contract must be clear on what the cash and non-cash entitlements are at any given time. Therefore, sacrifice arrangements tend to be in place for at ...
HMRC has resolved this matter by adding pension contributions to the list of salary sacrifice schemes which allow opting out at any time.EBSCO_bspCorporate Adviser
Mark Simmonds