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ICFM car salary sacrifice masterclass in demand: fleet managers urged to book places

ICFM car salary sacrifice masterclass in demand: fleet managers urged to book places

Fleet 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 allowance rules.

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 Consulting,
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 will be:

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.  
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.         

Dispelling 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. 

How employers 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.  

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].