Autumn statement 2016 and employee benefits

Today Philip Hammond delivered the Autumn Statement. From April 2017:

  • Living wage is due to increase from £7.20 an hour to £7.50 an hour.
  • Salary sacrifice savings will be restricted to pensions, cycle-to-work, childcare vouchers and ultra-low emission cars.
  • Personal allowance to increase to £11,500.
  • The roll out of Tax-Free Childcare is set to continue.
  • Employer and employee National Insurance thresholds to be equalised at £157 per week.