Imminent changes to car salary sacrifice scheme and cash or
car allowance rules will be under the spotlight at the inaugural ICFM
ICFM Masterclasses - for both members and non-members - are
a new initiative from the organisation dedicated to advancing the profession of car and light commercial fleet
As the clock ticks down to the introduction of the
regulations on April 6, 2017, 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. The government’s 2017
Budget on Wednesday, March 8 is expected to confirm the new rules.
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
Experts from leading car salary sacrifice scheme providers
Tusker and Zenith 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.
The ICFM Masterclass will be held on Wednesday, March 22
from 10am-2.30pm and is being hosted by RAC at its iconic
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. The speaker line-up will be completed by Dan Rees,
associate director, Deloitte Car and Mobility Consulting.
Key issues that the interactive Masterclass will focus on
The company 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.
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
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
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
role of ultra-low emission vehicles in
company car schemes.
Dispelling the myths and speculation around the
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.
How employers can successfully market a salary
sacrifice scheme to maximise uptake among their employee base.
Ms Argall said: “Tusker is passionate about
providing this tangible and valued employee benefit and welcomes the
opportunity to factually position the continued benefits to both employee and
employer post consultation.”
Ms Evans said: “Zenith is delighted to support the ICFM
Masterclass and have the opportunity to use our extensive experience to provide
attendees with real examples and insight on how to structure and market salary
sacrifice schemes, ensuring they continue to be a great addition to any
benefits package post the April 2017 legislation changes.”
ICFM director Peter Eldridge said: “There is a definite
appetite, according to our research, among fleet decision-makers for
Masterclasses on current key and complex issues that deliver in-depth insight
and practical advice.
“From the feedback we have received, the government’s
changes to car salary sacrifice rules - and related cash or car allowance rules
- is a major issue for many employers and employees. ICFM’s first masterclass
will dispel the rumour and speculation with experts delivering the facts. Fleet
decision-makers cannot afford not to attend.”
The inaugural Masterclass will be followed in mid-year with
a second one focusing on operational road risk.
The 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]