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Why do the new arrangements for the fair market value process apply to me and not just to new schemes?

April 26, 2017arrangements fair market process Schemes value

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Why do the new arrangements for the fair market value process apply to me and not just to new schemes?

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Unfortunately despite original advice that the new arrangements will only apply to new participants, HMRC have now confirmed that these must apply to any scheme where the hire period ends after 6th August 2010. To ensure that Wiltshire Council is compliant with the new HMRC salary sacrifice arrangements we must make amendments to our scheme. We have worked hard to find a solution that we consider to be the most appropriate that also represents the least cost to employees.