Home/Tag: salary sacrifice

Your guide to ULEVs

By |2020-10-08T15:49:40+01:00October 9th, 2020|News|

EVs come in many forms, each with a differing reliance on electricity to power their engines. These differing engine types mean that their performance and capabilities vary, therefore, it’s important to identify your driver’s needs as soon and as accurately as possible, as you are then best placed to match them with the engine type that will work specifically for them.

Salary sacrifice and company cars

By |2020-03-26T15:30:38+00:00August 22nd, 2019|Company car tax, Salary sacrifice|

SALARY sacrifice is a formal agreement between employee and employer to sacrifice some salary for a new car. Salary sacrifice is sometimes used as an alternative to the provision of a company car. However, Chancellor Philip Hammond announced changes from April 2017 in the 2016 Autumn Statement. This reduces some of the previous tax and NIC advantages of salary sacrifice [...]

Rebranded salary sacrifice scheme Pendragon Let’s Drive launched with discount

By |2018-03-15T21:37:09+00:00November 20th, 2017|Industry Intelligence, Latest news|

PENDRAGON Vehicle Management (PVM) has rebranded its employee car benefit scheme targeting salary sacrifice with Pendragon Let’s Drive launched to replace the SimplyDriveIt brand. The rebrand rejuvenates PVM’s employee benefit scheme with a fresh new look and a focus on low tax and low emission vehicles, targeted at the users who most benefit from a salary sacrifice vehicle. Drivers can enjoy a [...]

Cash-for-car: beware the new tax trap

By |2018-04-12T08:27:58+01:00August 24th, 2017|Cash for car, Company car tax|

CASH-FOR-CAR is usually provided by employers as part of a flexible benefits package. Given the choice of a company car or a cash alternative, the cash in the bank might well prove more attractive to you as an employee, especially if your own car is in good condition and suits your lifestyle well. Or rather than taking the stock company [...]

Avoid following government’s knee jerk decision on salary sacrifice

By |2018-03-15T21:42:56+00:00April 26th, 2017|Industry Insight, Industry Intelligence|

Knee jerk decisions following this week's Finance Bill reading may leave you ‘washed up’ says David Bushnell, product manager – mobility, at Alphabet The reading of the Finance Bill in the House of Commons ‘wash up’ sessions has revealed that Optional Remuneration Arrangements (OpRAs – or ‘salary sacrifice’ as we more commonly know it) and the Vehicle Excise Duty changes have been included [...]

CVM signs major trio to iLease as salary sacrifice alternative

By |2018-03-15T21:46:07+00:00November 30th, 2016|Industry Intelligence, Latest news|

VEHICLE supply and fleet management specialists CVM have announced that Aon Plus, Carlsberg and cruise giant Carnival have added iLease, CVM’s on-line vehicle personal contract hire (PCH) platform, to their own staff benefits platform. Further, all three have appointed iLease as their sole supplier for all PCH products. It all amounts to another round of glowing endorsements for CVM’s iLease, which [...]

Salary sacrifice axe blow to 600,000 company car drivers

By |2017-11-20T12:34:53+00:00November 23rd, 2016|Car news and reviews, News|

2016 Autumn Statement: Key points Tax savings on salary sacrifice and benefits in kind to be stopped from April 2017, with exceptions for ultra-low emission cars (see below), pensions, childcare and cycling - but existing arrangements protected until 2021 New definition for ultra low emission cars to be announced on December 5 Insurance premium tax to rise from 10% to [...]

Sal-Sac specialists Tusker reacts to HMRC consultation on salary sacrifice

By |2018-03-15T21:47:26+00:00August 25th, 2016|Industry Insight, Industry Intelligence, Latest news|

TUSKER, a specialist in salary sacrifice schemes, has reacted strongly to the news of the government’s HMRC consultation on ‘Salary sacrifice for the provisions of benefits in kind’. In particular, how much salary sacrifice cars contribute to the UK economy. Analysing cars ordered through its salary sacrifice schemes, Tusker says that the positive tax contribution for cars delivered in 2016 is [...]

BVRLA lobbies HMRC on salary sacrifice consultation

By |2018-03-15T21:47:26+00:00August 25th, 2016|Industry Intelligence, Latest news|

THE BVRLA has said it will lobby government strongly to make the case for salary sacrifice car schemes: that should receive special consideration as part of HMRC’s consultation on future salary sacrifice tax treatment. The BVRLA's stance follows the government announcement that it is concerned about the rising costs of some salary sacrifice schemes and is considering limiting the Income Tax and National Insurance [...]

LeasePlan warns on salary sacrifice shake-up timings and tax conflict

By |2018-03-15T21:47:28+00:00August 17th, 2016|Industry Insight, Industry Intelligence, Latest news|

THE head of consultancy services at LeasePlan warns on salary sacrifice changes in terms of timings and company car tax conflict in response to HMRC's consultation on changes. Matthew Walters' comments draw specifically on what the proposed approaches will mean for businesses that provide car related benefits through a salary sacrifice scheme. See our report Salary sacrifice under threat from HMRC. He says: [...]

Salary sacrifice under threat from HMRC

By |2017-11-20T12:34:33+00:00August 16th, 2016|Car news and reviews, Company car tax, News, Salary sacrifice|

THE salary sacrifice car perk is in the crosshairs of the government. Jane Ellison MP, financial secretary to the Treasury, has issued a salary sacrifice consultation to look at the future tax treatment of such benefits. The government highlighted its interest in this area of employee provision at Summer Budget 2015, saying it was concerned at the way benefits had [...]

Salary sacrifice under threat from HMRC

By |2018-03-15T21:47:30+00:00August 16th, 2016|Industry Intelligence, Latest news|

THE salary sacrifice car perk is in the crosshairs of the government. Jane Ellison MP, financial secretary to the Treasury, has issued a salary sacrifice consultation to look at the future tax treatment of such benefits. The government highlighted its interest in this area of employee provision at Summer Budget 2015, saying it was concerned at the way benefits had [...]

BVRLA responds to tax policy review affecting fleet sector

By |2018-03-15T21:47:32+00:00August 11th, 2016|Industry Intelligence, Latest news|

THE BVRLA has responded to a government tax policy review with consultations on three key areas affecting the fleet sector – salary sacrifice schemes, lease accounting and company car tax treatment of ultra-low emission vehicles (ULEVs). The BVRLA has welcomed the clarity that these consultations provide on the government’s policy positions, and will work with its members to ensure that the [...]

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