Work perks and tax benefits

bradqwer

Hi Guys I have been offered a chance to purchase things out of my wage and the company pay for them over a time which they say has tax benefits etc etc so stuff like ride to work scheme and discounted travel to name 2 i can think of the top of my head.

Is there any benefits taking these?

PRAISETHESUN

You'd need to double check with your HR department, but these sorts of benefits usually are paid for out of your pre-tax income meaning that there are some savings based on the amount of income tax and national insurance that you pay. Some benefits will still be taxed, but you will still save the difference in national insurance that you would've otherwise had to pay on the value of the benefit.

Otherwise the company might've negotiated a corporate discount for some things, so whilst there aren't any tax savings per se, they still can save you money over buying them by yourself.