decision-makers have been urged to book their places for the forthcoming ICFM Masterclass
focusing on the imminent changes to car salary sacrifice scheme and cash or car
The ICFM Masterclass will be held on Wednesday, March 22
from 10am-2.30pm and is being hosted by RAC at its operations control centre alongside the M6
in the West Midlands: RAC House, Brockhurst Crescent, Bescot, Walsall WS5 4AW.
Expert speakers will be Alison Argall, business
development director sales
at Tusker, and Claire
Evans, head of fleet consultancy Zenith - both companies are leading car
salary sacrifice scheme providers. The speaker line-up will be
completed by Dan Rees, associate director, Deloitte Car and Mobility
The inaugural ICFM
Masterclass - for both members and non-members - heralds the launch of a new
initiative from the organisation dedicated to advancing the profession of car
and light commercial fleet management.
The new rules come into effect on April 6, 2017 and ICFM
research among fleet decision-makers has highlighted car salary sacrifice and
company car tax along with cash or car allowance issues as the biggest
challenge this year.
Essentially the new rules mean employees opting for a
salary sacrifice arrangement or taking a company car in lieu of a cash
alternative will pay tax on the higher of the existing company car benefit
value and the salary sacrificed or cash allowance forgone. However, car
arrangements in place before April 6, 2017 will be protected until April 2021
and ultra-low emission cars - those with CO2 emissions of 75g/km or less - are
exempt from the regulation. Even then not all cars will be impacted and
employers and employees can still enjoy financial and other benefits associated
with salary sacrifice arrangements.
The experts will explain the revised rules, highlight
what they mean from an administrative viewpoint and dispel many of the myths
that have been circulating since the government announced the tax changes in
its 2016 Autumn Statement. They will also provide insight on the true impacts
and how businesses can continue to provide and market successful salary
sacrifice schemes to their employees.
Key issues that the interactive Masterclass will focus on
car landscape - the current role employers play in
car/travel provision; an overview of the 2016 Autumn Statement announcement and
any related measures announced in the 2017 Budget and their impact on fleet and
company car operations.
The key benefits of salary sacrifice - why salary sacrifice for cars
has been a fast-growing benefit for employers to offer; employee benefits and
key demographics on today’s salary sacrifice users.
The mechanics of salary sacrifice - how it works today; how it will work
post-April 6, 2017; and how the legislation will impact on company car
drivers with access to a cash alternative.
The future of perk and salary sacrifice cars post-April 6, 2017 - the impact of
changes of pricing and availability of cars and the cost comparison of company
cars versus private acquisition.
The role of ultra-low emission vehicles in company car schemes.
the myths and speculation around the practical considerations
of salary sacrifice/cash allowance schemes that have circulated since the new
legislation was announced; providing information on administrative changes to
P11d reporting post-April 2017.
can successfully market a salary sacrifice scheme to maximise uptake among
their employee base.
ICFM director Peter Eldridge said: “We have had
significant interest in the Masterclass from ICFM members and non-members. We
would therefore urge fleet decision-makers interested in attending and gaining
an in-depth understanding of how the new rules will apply in the real-world -
with many myths circulating dispelled - to book their places immediately.”
The inaugural Masterclass will be followed in mid-year with
a second one focusing on operational road risk.
cost of attending the Masterclass on Wednesday, March 22 is £99 for ICFM
members and £135 for non-members. For further information and to book a place
email the ICFM hub at [email protected].