Tag: BCF Wessex

Budget stay of execution for salary sacrifice

Salary sacrifice saved for electric cars in Budget

SALARY sacrifice remains a tax-effective solution for fleets following yesterday’s Autumn Budget and Spending Review (27 October 2021). There was nervousness in the fleet industry that changes to the Optional Remuneration Arrangements (OpRA) were to be introduced which would be a significant blow to the many successful salary sacrifice schemes leasing brokers have introduced.  But with no announcement, the substantial income tax…

What’s the impact of the National Insurance rise?

New levy to fund NHS Imagev2

YOU’RE no doubt aware that the government has introduced a levy that will effectively increase National Insurance by 1.25%. It’s to fund £12 billion a year to be spent on the NHS and social care. So far so good. But what’s the impact on companies that take company cars? Essentially there will be more Class 1A NIC to pay for employees that…