HMRC clarifies its position on the interaction between salary sacrifice and auto-enrolment
Pension obligations on employers in relation to auto-enrolment are being introduced, on a phased basis, from October 2012. One concern for employers about auto-enrolment relates to its interaction with HMRC rules on salary sacrifice.
‘Salary sacrifice’ occurs where an employee, with the agreement of their employer, ‘gives up’ part of their salary in return for a non-cash benefit (e.g. an employer’s pension contribution). This is advantageous from a tax perspective because the salary falls and so there are savings in national insurance contributions for both the employee and the employer…
If you are registered and logged in to the site, click on the link below to read the rest of the Taylor Wessing briefing. If not, please register or sign in with your details below.
News from Taylor Wessing
News from The Lawyer
Briefings from Taylor Wessing
This is only the second time that the Data Protection Index has featured in Global Intellectual Property Index, yet a number of trends are already apparent from the results.
Taylor Wessing looks at the latest news and updates in the data protection and information technology sectors.
Analysis from The Lawyer
The city-state is working hard to become a global wealth management hub, and law firms are gearing up for a prosperous new world
Financial disputes are starting to dominate the English courts as the long-awaited fallout from the downturn finally comes to town