Benefit consultation process
Government proposals announced in the last budget limit the type of benefits in kind which can qualify, through a salary sacrifice scheme, for tax and National Insurance savings.
The consultation process starts in August 2016 and legislation is planned for April 2017.
Subject to certain conditions and exemptions, the benefits concerned are:
- employer pensions and pension advice
- childcare vouchers
- cycles and cycle accessories
Employers will continue to report all benefits in kind through the P11D or PAYE returns.