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Tax and NI on Season Ticket Subsidy
Doc616
Posts: 3 Newbie
in Cutting tax
I have been offered a season ticket subsidy by my employer for 75% of the cost of an annual season ticket. This lowers the cost from £7800 to £1950.
I was just wondering, is there tax or NI payable on this benefit, and if so, at what rate?
I am am a higher rate tax payer already, so if I have to pay 40% tax on this subsidy, if reduces the benefit considerably and has a considerable impact if I am comparing the cost of a season ticket with only commuting a couple of times a week.
Thank you
I was just wondering, is there tax or NI payable on this benefit, and if so, at what rate?
I am am a higher rate tax payer already, so if I have to pay 40% tax on this subsidy, if reduces the benefit considerably and has a considerable impact if I am comparing the cost of a season ticket with only commuting a couple of times a week.
Thank you
0
Comments
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If they are reimbursing you it is simply extra pay and treated accordingly.
1
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