Autumn Statement 2016: Salary sacrifice use restricted

The new measures will affect some types of salary sacrifice schemes differently, with pensions, pensions advice, childcare, 'Cycle to Work' and ultra-low emission cars exempt. Furthermore, HM Treasury has confirmed, all arrangements in place before April 2017 will be protected for up to a year, while arrangements in place before April 2017 for cars, accommodation and school fees will be protected for up to four years. In salary sacrifice schemes, employees exchange some of their salary for a non-cash benefit in kind. Both the employer and employee make a tax saving, because the benefi...