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Salary sacrifice schemes
Scumhater
Posts: 17 Forumite
Hoping I've posted this in the right place - please move it if not.
I have a tablet computer via a salary sacrifice scheme that's almost finished - no problem there. However, I'm considering handing it on to a family member in need and going for a smaller one via the latest round of the same scheme.
The price quoted is £15 per month (over 12 months) taken from gross pay before tax and NI deductions. The savings on tax and NI mean that the actual cost works out at about £11 per month.
Thing is, I'm part-time and don't earn enough to pay tax or NI, so will this be taken into account or do I just not get the benefit of the tax saving?
It's something I never questioned when I got my current tablet and as I have a lousy (but slowly improving) credit record then this is a way I can buy what I need on easier terms.
I have a tablet computer via a salary sacrifice scheme that's almost finished - no problem there. However, I'm considering handing it on to a family member in need and going for a smaller one via the latest round of the same scheme.
The price quoted is £15 per month (over 12 months) taken from gross pay before tax and NI deductions. The savings on tax and NI mean that the actual cost works out at about £11 per month.
Thing is, I'm part-time and don't earn enough to pay tax or NI, so will this be taken into account or do I just not get the benefit of the tax saving?
It's something I never questioned when I got my current tablet and as I have a lousy (but slowly improving) credit record then this is a way I can buy what I need on easier terms.
0
Comments
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As far as I am aware, you just wouldn't get the benefit of the tax saving as you don't actually pay any tax.
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no tax saving, but the benefit of an interest free loan for the tablet0
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