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Salaxy Exchange Car Scheme affecting HB
guysl80
Posts: 93 Forumite
Dear all,
My company has a salary exchange car scheme where i can buy a new car in exchange a portion of my salary monthly.
If i get approved my final salary will be decreased approx £350 a month to cover the new car.
Will my HB amount will be increased due to the deduction of the salary?
Thank you
My company has a salary exchange car scheme where i can buy a new car in exchange a portion of my salary monthly.
If i get approved my final salary will be decreased approx £350 a month to cover the new car.
Will my HB amount will be increased due to the deduction of the salary?
Thank you
0
Comments
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Better on the benefits board:
http://forums.moneysavingexpert.com/forumdisplay.php?f=139
It certainly can affect some benefits - see...
https://www.gov.uk/guidance/salary-sacrifice-and-the-effects-on-paye
In terms of fairness, many would think it should, but I'm no lawyer, suggest you discuss this with YOUR council's HB team. Since some HB application forms can be 28 pages long might be worth reviewing yours...0 -
theartfullodger wrote: »In terms of fairness, many would think it should
In terms of fairness, many would think it should not: why should the taxpayer subsidise the OP's new car?
The OP has voluntarily chosen to buy a new car, and will already be saving tax and NI on the purchase price. Why should they get additional taxpayer support in the form of increased HB because they're exchanging a part of their pay for a car?0 -
Hi,
I thought the same but just wanted to clarify. Anyhow i''ll contact the HB dept and get their decion too.
Cheers0 -
Apologies, I meant it the other way round....ReadingTim wrote: »In terms of fairness, many would think it should not: why should the taxpayer subsidise the OP's new car?
The OP has voluntarily chosen to buy a new car, and will already be saving tax and NI on the purchase price. Why should they get additional taxpayer support in the form of increased HB because they're exchanging a part of their pay for a car?0
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