MyBundle was good while it lasted.....

Post by **RobertT** » 23 Nov 2016, 15:28

http://www.bbc.co.uk/news/business-38074624" onclick="window.open(this.href);return false;

Employee perks set to cost more

People who buy their gym memberships and mobile phone deals through a work benefit scheme are set to pay more.
Known as "salary sacrifice" schemes, employees give up part of their salary for a non-cash benefit, with both the company and worker paying less tax.
As part of his Autumn Statement, Chancellor Philip Hammond described the perks as "unfair" and has abolished many of them from next April.
Child care, ultra-low emission cars and cycling to work will not be affected.

The Reward and Employee Benefits Association (Reba), which represents HR workers for some of the UK's largest firms, said the move would affect lower paid earners the most.
"It will be the 'just about managing' employees which will be most affected by no longer having access to so many health and wellbeing benefits and mobile phones," said Debi O'Donovan, director at Reba.
"While the Reward & Employee Benefits Association agrees that the government did need to clamp down on the increasing misuse of salary sacrifice for more 'luxury' perks, we are disappointed that so many essential employee benefits have been caught up in this change."
While there are no exact figures for how many employers and employees use these schemes, most large and medium-sized organisations in the public and private sectors offer them.

Ms O'Donovan estimates that millions of workers will be affected.
Few small firms provide such schemes, as the administration involved is too much of a burden.
Arrangements in place before April 2017 will be protected until April 2018. The more expensive agreements for cars, accommodation and school fees will be protected for longer - until April 2021, the Treasury said.
In its consultation document, the Treasury gives the example of a 24-month mobile phone contract worth £1,000. That would cost the Exchequer £321 for a basic rate taxpayer, or £426 if the employee is in the highest rate tax bracket.

Post by **GoingPostal86** » 23 Nov 2016, 15:56

So what happens to those already enrolled or waiting on delivery? What happens to the cost of their items after april 2018?

Post by **Pathfinder** » 23 Nov 2016, 16:43

I wonder if Let's=Connect has been waiting to see the outcome of today before continuing the orders, I for one would like to see what the price increases will be!

ewancurze · Post by **ewancurze** » 23 Nov 2016, 16:46

If we have to pay more I will just cancel mine.....only problem is,the 14 Day cooling off period is going to run out this week.....they need to tell us!

fishtank · Post by **fishtank** » 23 Nov 2016, 17:12

I suppose it's good to see the government finally going after those pesky tax avoiders, first the little man then maybe Amazon lol, who knows perhaps eventually Jimmy Carr...

Tman · Post by **Tman** » 24 Nov 2016, 09:35

It was always morally wrong anyway. Why should anyone's tax liability be reduced due to treating themselves to a new phone or whatever?

fishtank · Post by **fishtank** » 24 Nov 2016, 10:02

Tman wrote:It was always morally wrong anyway. Why should anyone's tax liability be reduced due to treating themselves to a new phone or whatever?

It's more fun if you're a business or sole trader, you can even claim the cost of a Christmas party, first class travel and accommodation as long as it's a "business trip", boozing and schmoozing "clients", cars, houses, phones, paintings...basically it's a blank cheque if you can come up with business justification.

I guess morals are just for us plebs...

Tman · Post by **Tman** » 24 Nov 2016, 14:03

Hardly the same, but even so a lot of that is wrong too, and "two wrongs...etc etc"

Post by **GoingPostal86** » 24 Nov 2016, 14:45

An advisor told me they will be in touch at the start of next week

DB1100 · Post by **DB1100** » 24 Nov 2016, 19:25

I think us plebs will still be able to buy a bike tho,on the cycle to work scheme

Dorset Plodder · Post by **Dorset Plodder** » 24 Nov 2016, 21:04

ALWAYS Amuses me when ANY commentator says "These changes will effect the most lowest paid members of society" No Shite Sherlock! FFS Isn't that pretty bloody obvious. I doubt Moya worries about the cost of her shopping going up by a few quid, she'll just give her PA an extra £50 to pay for it. Oh by the way how's those share options doing?

Tman · Post by **Tman** » 25 Nov 2016, 19:05

Dorset Plodder wrote:ALWAYS Amuses me when ANY commentator says "These changes will effect the most lowest paid members of society

A quote from REBA who are hardly impartial.
What they're concerned about is HMRC curtailing their little scheme and nothing to do with the lowest paid members of society.
Nothing worse than mock piety and outrage.

Stormproof · Post by **Stormproof** » 26 Nov 2016, 20:32

Looks like anyone who has ordered something before a specific date will be ok. I ordered a car a few weeks back and was beginning to worry that this announcement would make me cancel it. Looks like I'll be ok until 2021 which is good as I only intend leasing for 3 years.

Dorset Plodder · Post by **Dorset Plodder** » 27 Nov 2016, 19:26

Tman wrote:
Dorset Plodder wrote:ALWAYS Amuses me when ANY commentator says "These changes will effect the most lowest paid members of society

A quote from REBA who are hardly impartial.
What they're concerned about is HMRC curtailing their little scheme and nothing to do with the lowest paid members of society.
Nothing worse than mock piety and outrage.

Totally agree Tman. I do listen to quite a lot of Radio 4 so get ALL the political & financial angles (unfortunately with a spin by those with vested interests) I sometimes think that station isn't good for my blood pressure....But then Radio One's not good for your ears!