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Pension Salary Sacrifice

Pension Salary Sacrifice

Pension Salary Sacrifice

TaxWatch

TaxWatch

Access KPMG's client-only portal of publications on topical tax issues.

In this article, Aidan Smith, a tax Director in KPMG’s Belfast office, outlines the potential payroll cost savings for Northern Ireland and UK employers under pension salary sacrifice arrangements.

In April 2017, the UK government announced the end of some advantages for Pay As You Earn (PAYE) or National Insurance Contributions (NIC) in the case of some employee benefits offered through salary sacrifice arrangements. One of the few remaining benefits, which is on HMRC’s approved list is pensions, which could provide even better savings post April 2019 with the increase in pension auto enrolment rates.

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