Salary Sacrifice - full steam ahead - Asset Finance Connect

An epic battle has just been fought on behalf of the fleet industry and its customers with HMRC to try to retain the tax and national insurance benefits that salary sacrifice schemes offer.

Salary sacrifice has been a success story for the whole industry; a new product for which demand has been growing and which many fleet leasing companies now offer.

Leading the charge for the industry was a small group of committed fleet industry experts and the BVRLA, but perhaps Tusker was the name on everyone’s lips because, unlike every other fleet leasing company, for whom salary sacrifice is one product amongst many, for Tusker it is the core product on which their business has been built.

The battle is over and after the smoke cleared it became possible to see the effect. The benefits have been retained for ULEVs (which was a win) and, once the sums had been done, it became clear that the effect on most salary sacrifice customers would be nil or negligible.

David Hosking, MD of Tusker, will be joining us at the IAFN conference on 23 May to give an update on the talk he delivered at our November conference. The subject of his talk? Why, that’s obvious; “Salary sacrifice – it’s full steam ahead”!

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