By Globalization PartnersDecember 2016
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Globalization Partners enables companies to quickly and easily expand into 187 countries without the hassle of setting up local branch offices or subsidiaries. You identify the talent, and we employ your team member via our in-country payroll. This enables you to quickly and easily hire around the globe, and lifts the burden of figuring out HR, tax and legal matters from your shoulders to ours.
The UK’s popular “salary sacrifice” tax benefit will undergo significant changes in 2017. Until now, employees have been allowed to swap part of their salary for non-cash employee benefits, like pension contributions, medical insurance, mobile phones, appliance purchases, and gym memberships, but the program is expensive and the government has decided to cut it back. Some perks will still be allowed however, including:
- ultra-low emission cars
- pension savings and advice
Other perks are allowed only until April of 2018, including:
- company cars
- school fees
The new limitations are predicted to cost employees and their employers £85m in 2017 and 2018 and to raise £1bn in additional tax revenues over the next six years.