Salary sacrifice while BR

alextheg

Good morning.

i declared BR 2 months ago, OR made a straightforward decision with no interview.  I now have an assessment booked with the IPA adviser at the OR.

ive been thinking of getting a bicycle through my employers Cycle to work scheme. Salary sacrifice would be around £13 per week.

Would this cause issues with NT tax code ?
is this even allowed or would the OR take a dim view of it ?

The last thing I want to do is create any problems at this point. Thanks in advance for any advice.

stu12345_2

I think cycle to work scheme is classed as a lease, not a debt or an asset.

then surely you will have less money left to make payment in an IPA.
does the £13 work out more or less than the method you currently use to get to work.

think that's what's important, if you are unessesarily increasing your expenses.

alextheg

The sacrifice would be less than what I use for public transport. Just not sure about the OR’s view and also the NT tax code in relation to the sacrifice 

stu12345_2

don't know about that, but surely that means you have to make potentially a bigger ipa cos your expenses have gone down

sourcrates

If you are unsure about anything related to your bankruptcy, ask your OR, or someone in their team, they are there to help you.

alextheg

Thanks for the advice, I’ll speak to the OR.

Penguin_

Also one thing to consider is that if you leave your employment, your employer (& salary sacrifice provider) may expect you to pay the outstanding balance on the bike.

alextheg

Penguin_ said:

Also one thing to consider is that if you leave your employment, your employer (& salary sacrifice provider) may expect you to pay the outstanding balance on the bike.

No intention of Lea my employer but thanks for the pointer.