Season Ticket Loan

bouicca21

It might be worth doing your sums about the savings from an annual season ticket. For my journey I worked out that the savings were just about equal to my annual leave entitlement, so unless I planned to use the season ticket at weekends and other days off, there wasn't a lot in it. I started buying monthlies instead, so that I was sure I would get full benefit.

TrickyDicky101

I'd like to know where I can get a loan for a season ticket that is repaid through untaxed income - sounds like a great, albeit tax-evasive, idea.

Savvy_Sue

TrickyDicky101 wrote: »

I'd like to know where I can get a loan for a season ticket that is repaid through untaxed income - sounds like a great, albeit tax-evasive, idea.

Well surely it's just another 'salary sacrifice' thing? Or it's not out of untaxed income?

It's a very long time since I had an annual season ticket, but my employer at the time used to provide loans for them - Central London.

jobbingmusician

There is another slightly worrying thing. Employers are not supposed to give tax free loans, so in theory you should also owe your employer interest.....

bouicca21

When I used to get a season ticket loan it was under an arrangement sanctioned by HMRC. I expect it's still the same ...

burnoutbabe

interest free loans are allowed (under £8k or so)

I've never seen an option for a pre tax loan though?