We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Bankruptcy and salary sacrifice

13

Comments

  • mysterio_2
    mysterio_2 Posts: 525 Forumite
    500 Posts
    notanewuser wrote: »
    I daresay that depends on the role, actually. Can't imagine those holding the NHS purse strings are allowed to go bankrupt and keep their jobs.


    why not?? brother been a manager in the NHS for a good few years bankrupt nearly 6yrs ago and until being finished due to poor health he managed a fair few quid in projects budgets etc etc told his employers from day one & they didnt care
    Friends help you move. Real friends help you move bodies.
    :p
  • notanewuser
    notanewuser Posts: 8,499 Forumite
    Tupperware_Queen wrote: »
    I am a nurse, and there is no problem within the NHS with bankruptcy. I discussed with my manager, as I do a lot of ordering etc, and wanted to make sure that it was all ok.

    As regards the car, you will have to discuss that with the OR.
    mysterio wrote: »
    why not?? brother been a manager in the NHS for a good few years bankrupt nearly 6yrs ago and until being finished due to poor health he managed a fair few quid in projects budgets etc etc told his employers from day one & they didnt care

    For the same reason that the police etc cannot go bankrupt.
    Trying to be a man is a waste of a woman
  • sniggings
    sniggings Posts: 5,281 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    notanewuser wrote: »
    No longer nominal, I'm afraid.

    I bought a £600 bike for £30 so in my case that was nominal.
  • notanewuser
    notanewuser Posts: 8,499 Forumite
    sniggings wrote: »
    I bought a £600 bike for £30 so in my case that was nominal.

    How long ago?
    Trying to be a man is a waste of a woman
  • sniggings
    sniggings Posts: 5,281 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    notanewuser wrote: »
    How long ago?

    2 years maybe?
  • notanewuser
    notanewuser Posts: 8,499 Forumite
    sniggings wrote: »
    2 years maybe?

    They tightened up the rules for 2010/11 I believe.
    Trying to be a man is a waste of a woman
  • sniggings
    sniggings Posts: 5,281 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    notanewuser wrote: »
    They tightened up the rules for 2010/11 I believe.

    maybe but surely if they have then it's the end of the scheme, as the savings weren't that great to start with.
  • notanewuser
    notanewuser Posts: 8,499 Forumite
    sniggings wrote: »
    maybe but surely if they have then it's the end of the scheme, as the savings weren't that great to start with.

    http://www.guardian.co.uk/lifeandstyle/2010/aug/13/cycle-to-work-scheme-bargain-ends?cat=lifeandstyle&type=article
    Trying to be a man is a waste of a woman
  • simeyb
    simeyb Posts: 212 Forumite
    Eighth Anniversary 100 Posts Combo Breaker
    PippaGirl wrote: »
    Yes, I was thinking of material goods really when I said nothing to show for what they've paid. I think the council are quids in on this deal though.
    Sorry Pippa but you're largely wrong - the employer offering salary sacrifice does have a benefit as the amount of employers' NI contributions goes down, but the employee is the beneficiary as they pay neither income tax nor NI on the benefit - the cost to the person at the end of the contract although a bit more than a few quid, is not very much so does end up owning the bike.
    Cars are different - the payment for the car is taken out of gross pay so the employee doesn't pay income tax or NI on the lease payments BUT the provision of the car is classed as a Benefit In Kind and the person PAYE tax code is reduced to reflect the benefit - if you go for a very low emmissions car the reduction is less than a fuel guzzler - there are plenty of cars in the former bracket now.
  • debtinfo
    debtinfo Posts: 7,012 Forumite
    notanewuser wrote: »
    For the same reason that the police etc cannot go bankrupt.

    The police can go bankrupt
    Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
    Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.3K Banking & Borrowing
  • 254.4K Reduce Debt & Boost Income
  • 455.4K Spending & Discounts
  • 247.2K Work, Benefits & Business
  • 603.9K Mortgages, Homes & Bills
  • 178.4K Life & Family
  • 261.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture