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.
The MSE Forum Team would like to wish you all a Merry Christmas. However, we know this time of year can be difficult for some. If you're struggling during the festive period, here's a list of organisations that might be able to help
📨 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!
Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!
Salary Sacrifice Query
Comments
-
Paul_Herring wrote: »What reason has been given?
Its defined as a 'loyalty' bonus and "value is known in advance", which apparently means HMRC don't allow that type to be sacrificed.
My annual bonus can be sacrificed, but ONLY prior to knowing its value (usually have to agree to sacrifice in writing at least 6 months before its due).0 -
Snapdragon wrote: »Its defined as a 'loyalty' bonus and "value is known in advance", which apparently means HMRC don't allow that type to be sacrificed..
Hmm. Sounds a bit like a retention bonus (the value of which was known at the start of the retention period) I got which I was able to sacrifice.
Then again, I asked about sacrificing at the start of the period, rather than at the end.Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
Paul_Herring wrote: »Hmm. Sounds a bit like a retention bonus (the value of which was known at the start of the retention period) I got which I was able to sacrifice.
Then again, I asked about sacrificing at the start of the period, rather than at the end.
Yes definitely similar, its just their wording, but does equate to a series of retention bonuses and I did ask about sacrificing them as soon as we were told about them but the response was, NO. Hence me trying to think of options to mitigate the potential loss to tax.0 -
Snapdragon wrote: »What is taken into account when calculating NMW?
Contractual hours worked.
Artificial arrangements are very apparent. Doubt your employer wishes to leave themselves open to investigation. My last HMRC payroll audit was a few years back. Though I recall clearly that the first 50 questions asked, simply required yes or no answers. There's no certainly no grey.0 -
Thrugelmir wrote: »Contractual hours worked.
Artificial arrangements are very apparent. Doubt your employer wishes to leave themselves open to investigation. My last HMRC payroll audit was a few years back. Though I recall clearly that the first 50 questions asked, simply required yes or no answers. There's no certainly no grey.
True, they've recently been investigated and found themselves in a mess due to deductions made from parts of the business on genuine NMW rate, so they are probably going to be very cautious of falling foul of NMW rules in future.
Looks like I'm going to need some time with the pension contribution calculator to work out correct % to sacrifice.:(0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.9K Banking & Borrowing
- 253.9K Reduce Debt & Boost Income
- 454.7K Spending & Discounts
- 246K Work, Benefits & Business
- 602.1K Mortgages, Homes & Bills
- 177.8K Life & Family
- 259.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards