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HMRC consult on removing tax incentives for company car schemes

HMRC consult on removing tax incentives for company car schemes

HM Revenue and Customs has consulted on proposals which seek to limit the range of benefits in kind that attract tax and National Insurance (NI) contributions advantages for employers and employees.

From 6 April 2017, it plans to remove any tax and NI benefits from company cars, phones, computers and other devices provided under salary sacrifice schemes. Pension contributions and advice, childcare and cycle to work schemes are out of scope of the new proposals. HMRC is expected to respond early next year.  For more information please click here.