Salary sacrifice (optional remuneration arrangements)

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Brexit: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...
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Produced in partnership with Gary Barnett and Martin Shah 27th Oct
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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13th Oct
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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12th Oct
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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28th Sep
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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27th Sep
Practice notes
FORTHCOMING CHANGE: HMRC is consulting (13 July to 10 August 2020) on draft regulations to provide a deduction from a UK entity’s equity and...
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Produced in partnership with Charlotte Sallabank of Katten Muchin Rosenman UK LLP 26th Sep
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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26th Sep
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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26th Sep
Practice notes
This Practice Note explains:•what a determination in respect of direct tax (ie a direct tax determination) is•when HMRC might issue a direct tax...
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Produced in partnership with Philip Rutherford 26th Sep
Practice notes
Unilateral relief, like double tax relief, aims to relieve double taxation. Subject to certain conditions being satisfied and specific limits,...
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25th Sep
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 25th Sep
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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25th Sep
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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25th Sep
Practice notes
Overdrafts, term loans and revolving credit facilitiesThree common types of loan facility are:•overdrafts•term loans, and•revolving credit facilities...
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25th Sep
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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25th Sep
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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25th Sep

Most recent Salary sacrifice (optional remuneration arrangements) content

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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26th Sep
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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26th Sep
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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28th Sep
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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28th Sep
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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28th Sep
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 Judith Hogarth of Excello Law 13th Oct
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 13th Oct
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 13th Oct
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 15th Oct
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 15th Oct
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 15th Oct
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 15th Oct
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 15th Oct

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