gross misconduct season ticket loan

stevemLS

tomtontom wrote: »

A season ticket loan is [STRIKE]quite[/STRIKE] very clearly for one purpose - you don't need a policy to spell it out.

This.

Nor do you need a policy to say that you will not defraud your employer.

I believe it is generally called the implied duty of trust and fidelity.

Tigsteroonie

sangie595 wrote: »

I'd definitely say it could be gross misconduct. But how on earth did they find out that you didn't have a season ticket? And why did you take the loan for one and then not get one? Because the outcome is going to depend to some extent on what explanation you can provide.

My employer insists that you send through a receipt for purchase of said season ticket (or season car parking permit) as evidence within one month of receiving the loan. I can't remember whether the policy explicitly states what will happen if you don't.

Presumably you are still repaying the loan, OP? Don't presume that by resigning or even being sacked, that the loan will be forgotten. It could be deducted from any final salary payment, and even taken through the courts for repayment.

rs65

lookingforthelight wrote: »

I'm desperately hoping as my (big) employer has not actually suffered a loss

They have. They gave you an interest free loan.

Gavin83

Did you at no point consider that you could potentially get in trouble for this?

yvonne13_2

OP how many times have you done this?

lookingforthelight

Thanks for the mix of replies.

It was a dedicated season ticket loan and policy states it should be used to purchase a season ticket. I know I've been stupid.

I was in a dire situation at the time and desperately needed a lump sum to help. The loan is deducted directly from my salary so the company will never lose out. Once I had paid it back that would have been the end of it.

I understand they class it as GM but they have a range of disciplines to enact. I'd obviously prefer a final written warning, pay the loan back immediately, demotion, anything but the risk of being dismissed is such that I would rather resign to avoid the chance of having "dismissed for GM" on my reference.

I think the reference they provide are the bare bones like just confirming I worked to and from dates and in what capacity.

However, if there is a chance they may include reason for leaving I'd prefer "pending investigation" than actually "dismissed".

BTW - on the HMRC website, season ticket loans do not have to be solely for season tickets but can be for almost any purpose as long as they are under £5000 (which this was). There are no tax implications to report or declare. So it sounds like it is just the company specifying it themselves.

tomtontom

No, HMRC allows small employee loans for almost any purpose - they don't specify that season ticket loans can be used for any purpose!

The loss to the employer is the opportunity cost of the loan amount - it could have been used for another purpose, even if just sat in the bank earning interest.

No one can tell you what your employer will do. Is it just this year that you have done it, or previous years also? All you can do is apologise and explain your reasons for doing it.

AJ1982

Its now upto £10,000

Regardless of the type of loan depicted by HMRC, you yourself state its a "Season Ticket Loan" which you have used for a different purpose.

Your only line of defence is to develop a sudden interest in football :P At least you would have a chance :P Be careful on the team though, some teams will definitely lead to instant dismissal.

Sorry, not trying to make this into a joke, but it does not sound good.

MacMickster

You say that this is a large employer. In that case I suspect that local management will have little discretion in the case of Gross Misconduct and dismissal is the likely outcome (unless you are aware of colleagues who have been kept on despite GM).

If you are in a union get advice immediately. Can you negotiate an agreed neutral reference if you resign and save your employer from having to go through the disciplinary process?

InsideInsurance

tomtontom wrote: »

No, HMRC allows small employee loans for almost any purpose - they don't specify that season ticket loans can be used for any purpose!

Is there a limit to the loan?

I know when working for a bank one of the staff perks was reduced interest loans, and interest free for season tickets. There was also reduced interest mortgages but they attracted BIK unlike the loans.