Salary sacrifice schemes could be hit in emergency Budget

Salary sacrifice schemes may be hit in the upcoming Budget as the Chancellor struggles to balance the books, cut the welfare budget and keep to his triple-lock promise on income tax, NICs and VAT, reports Sara White

A senior tax expert is warning that salary sacrifice tax benefits are a potential area where tax relief could be cut in the Budget, as the triple lock strategy will constrain the Chancellor, George Osborne, leaving him little room for quick tax wins. Although the triple lock is not in law yet, it appears to rule out any changes to the three key taxes over the parliament, which leaves the possibility that CGT rates may go up.

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