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From the 6th April 2017, HMRC reported that the tax and NI advantages would stop for most salary sacrifice schemes. This was to be enforced for new and most existing schemes. However, HMRC have issued new guidance following the Autumn Statement saying that there will be limited protection for some existing schemes.
HMRC says that the new rules will affect types of salary sacrifice schemes differently:
These amendments will allow employers to phase out or negotiate with their employees the terms of the salary sacrifice schemes. Now is a good time to start planning ahead and talking to our employees
If you would like further advice on salary sacrifice schemes, please contact the team on 01530 267 320 or email email@example.com
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