Salary sacrifice (optional remuneration arrangements)

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Practice notes
Plant and machinery allowances are the most widely used form of capital allowance. Plant and machinery is often (wrongly) interpreted as if the terms...
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Produced in partnership with Martin Wilson 12th Jan
Practice notes
It is market practice for a tax covenant, also known as a tax deed, to form part of the transaction documents in respect of a sale of all the shares...
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9th Nov
Practice notes
The reasons why a company might carry out a demerger, and the different ways in which a demerger may be structured, are described in Practice Notes:...
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Produced in partnership with Zoe Feller of Bird & Bird 12th Jan
Practice notes
This Practice Note describes the law and practice relating to elections under section 198 or 199 of the Capital Allowances Act 2001 (CAA 2001), which...
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Produced in partnership with Martin Wilson 12th Jan
Practice notes
It is standard market practice for loan agreements (also known as facility agreements), whether bilateral or syndicated, to:•prohibit a borrower from...
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Produced in partnership with Eloise Walker of Pinsent Masons 12th Jan
Practice notes
Coronavirus (COVID-19): HMRC has stated in its International Manual that if a financial institution cannot meet the FATCA reporting deadline of 31 May...
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Produced in partnership with Ali Kazimi and Chris Orchard of Hansuke Consulting Limited 12th Jan
Practice notes
This Practice Note is about the meaning of a scheme of reconstruction for tax purposes.Tax neutrality is maintained where a company (company A) enters...
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9th Nov
Practice notes
Where a dispute is brought to an end by a payment of damages or compensation, whether under a court order or an out-of-court settlement agreement:•the...
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9th Nov
Practice notes
A damages or compensation payment may attract VAT. This depends on exactly what the payment is for. If it is purely compensatory, it will be outside...
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9th Nov
Practice notes
The Enterprise Investment Scheme (EIS) is designed to encourage investment in smaller, higher-risk trading companies by offering a range of tax...
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9th Nov
Practice notes
The regime for property authorised investment funds (PAIFs, or as HMRC use in regulations and their published guidance, Property AIFs)) was introduced...
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Produced in partnership with Martin Shah of Simmons & Simmons LLP based on material originally written by Charles Goddard of Rosetta Tax LLP 12th Jan
Practice notes
The value shifting rules are anti-avoidance provisions. They are similar to the rules applying to depreciatory transactions in that they target the...
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9th Nov
Precedents
1 Withholding and grossing up 1.1 All sums payable under this [Agreement] by or on behalf of any party (for the...
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9th Nov
Practice notes
A management buyout, or MBO, involves the acquisition of a business by its existing management team usually with the help of private equity financing....
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9th Nov
Practice notes
The international movement of capital rules should be considered whenever:•any non-UK tax resident subsidiary (referred to in this note as a foreign...
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9th Nov
Practice notes
This Practice Note:•explains:◦the purpose of the tax indemnity clause that is normally found in a loan agreement, and◦that the standard drafting of...
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9th Nov

Most recent Salary sacrifice (optional remuneration arrangements) content

Practice notes
Coronavirus (COVID-19): As part of a series of measures put in place to stop the spread of coronavirus (COVID-19), HMRC announced the Coronavirus job...
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Produced in partnership with Lewin Higgins-Green of FTI Consulting and Philip Swinburn of Macfarlanes 15th Jan
Practice notes
Coronavirus (COVID-19): As part of a series of measures put in place to stop the spread of coronavirus (COVID-19), HMRC announced the Coronavirus job...
Read More >
Produced in partnership with Lewin Higgins-Green of FTI Consulting and Philip Swinburn of Macfarlanes 15th Jan
Practice notes
Coronavirus (COVID-19): As part of a series of measures put in place to stop the spread of coronavirus (COVID-19), HMRC announced the Coronavirus job...
Read More >
Produced in partnership with Judith Hogarth of Excello Law 15th Jan
Practice notes
Coronavirus (COVID-19): As part of a series of measures put in place to stop the spread of coronavirus (COVID-19), HMRC announced the Coronavirus job...
Read More >
Produced in partnership with Lewin Higgins-Green of FTI Consulting and Philip Swinburn of Macfarlanes 15th Jan
Precedents
[insert date of letter]To: [insert name of employee]From: [insert name of person in charge of salary sacrifice arrangements and their position within...
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Produced in partnership with Jenny Wheater of Duane Morris LLP 8th Jan
Precedents
HMRCNon-Statutory Clearance Team S0563Saxon House1 Causeway LaneLeicesterLE1 4AA[insert date of letter][insert company PAYE reference]Dear [insert...
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Produced in partnership with Lewin Higgins-Green of FTI Consulting and Philip Swinburn of Macfarlanes 8th Jan
Practice notes
What are optional remuneration arrangements?The rules surrounding Optional Remuneration Arrangements (‘OpRAs’) were introduced by the Finance Act 2017...
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Produced in partnership with Lewin Higgins-Green of FTI Consulting 8th Jan
Precedents
[For use only where the employee is foregoing salary for the following benefits that retain Tax and/or NICs advantages permitted pursuant to the...
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Produced in partnership with Lewin Higgins-Green of FTI Consulting 8th Jan
Precedents
[insert date of letter]This document summarises certain changes to the contractual terms and conditions of employment between [insert name of...
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Produced in partnership with Jenny Wheater of Duane Morris LLP 8th Jan
Precedents
[Insert name and address of employee][For use only where the employee is foregoing salary for the following benefits that retain Tax and/or National...
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Produced in partnership with Lewin Higgins-Green of FTI Consulting and Philip Swinburn of Macfarlanes 8th Jan
Precedents
[For use only where the employee is foregoing salary for the following benefits that retain Tax and/or NIC advantages permitted pursuant to the...
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Produced in partnership with Jenny Wheater of Duane Morris LLP 8th Jan
Q&As
A salary sacrifice scheme involves a change in the contractual arrangements between an employer and employee so that the employee agrees to a...
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29th Nov
Q&As
In summary, a valid salary sacrifice arrangement (also sometimes known as an optional remuneration arrangement) involves:•a legally-effective...
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29th Nov
Q&As
From 6 April 2017, the Finance Act 2017 introduced changes to the Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003) which, subject to some...
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29th Nov

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