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Issue:
4897
/
Categories:
Comment & Analysis
, company car
, National Insurance
, Remuneration arrangements
, tax reliefs
, Income Tax
A good offer
Key points
- Optional remuneration arrangements are a salary sacrifice which include benefits in kind with a cash allowance option.
- In an optional remuneration arrangement the amount taxed will be the higher of the cash amount that the employee would have received and the taxable benefit amount determined under the benefit rules.
- Employees do not pay National Insurance (NI) on non-cash benefits.
Having prepared my teaching for the following week I was just about to sit down and enjoy a well-deserved cup of tea and slice of carrot cake.
As the kettle was boiling I heard my computer ping. I had just received an email from my cousin Clara. She was telling me all about the new job that she has been offered.
She will be a fashion buyer for Belle’s Boutiques Ltd a company which owns a number of high-end fashion stores...
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