Can we expect to see a change in strategies leading to the renegotiation of all employment contracts, the implementation of new share schemes, an increase in pensions contributions? Any other ways to avoid the tax?
What are accountants going to recommend? Is the increase all that bad?
Christine Riefa
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It's real and it's bad!
We have revised all our budgets for 2002/03 onwards to reflect the need to fund pensions and increased NI. As a public sector organisation we can't adopt ingeneous strategies, but the impact on a private sector employer will be no less significant. We have faced increased costs running into millions. You can't just argue this away.