Potential capping of Salary Sacrifice (speculation)?

BlackKnightMonty

Grumpy_chap said:

This speculation seems to have ignored the other speculation that NI will be cut to zero and income tax increased by the same percentage...

For low income tax band only. The higher bands won’t get the NI drop. So combined with Sal Sac revisions it starts to add up. Those with the broadest shoulders eh!

artyboy

BlackKnightMonty said:

Grumpy_chap said:

This speculation seems to have ignored the other speculation that NI will be cut to zero and income tax increased by the same percentage...

For low income tax band only. The higher bands won’t get the NI drop. So combined with Sal Sac revisions it starts to add up. Those with the broadest shoulders eh!

Well yes, because then the uncapped rate would have to drop to zero, and that's never going to happen. Wouldn't be surprised if another penny went on that just for good measure.

But I digress. Speculatively.

Albermarle

artyboy said:

BlackKnightMonty said:

Grumpy_chap said:

This speculation seems to have ignored the other speculation that NI will be cut to zero and income tax increased by the same percentage...

For low income tax band only. The higher bands won’t get the NI drop. So combined with Sal Sac revisions it starts to add up. Those with the broadest shoulders eh!

Well yes, because then the uncapped rate would have to drop to zero, and that's never going to happen. Wouldn't be surprised if another penny went on that just for good measure.

But I digress. Speculatively.

I think I had better call my therapist as I think I am getting 'Sick of all this Speculation Syndrome' !

artyboy

Albermarle said:

artyboy said:

BlackKnightMonty said:

Grumpy_chap said:

This speculation seems to have ignored the other speculation that NI will be cut to zero and income tax increased by the same percentage...

For low income tax band only. The higher bands won’t get the NI drop. So combined with Sal Sac revisions it starts to add up. Those with the broadest shoulders eh!

Well yes, because then the uncapped rate would have to drop to zero, and that's never going to happen. Wouldn't be surprised if another penny went on that just for good measure.

But I digress. Speculatively.

I think I had better call my therapist as I think I am getting 'Sick of all this Speculation Syndrome' !

Maybe put down the 'devices' for the next 2 weeks then!

On the plus side, at least this thread hasn't (yet) descended into the normal death spiral of political bickering. Not that I hold out much hope...

Qyburn

BlackKnightMonty said:

If we park the lazy tropes for a minute. Sal Sac has helped address a big underlying challenge. Wage compression. You see the lower downs have had a good run of it in terms of pay growth. So now the difference between the postroom kid, team leader, and office manager is much less. Sal Sac is about the only perk left to higher earners. But Rachel doesn’t want us to have any perks. Which is why when you hit £100k you have 62% IT + NIC (67% in Scotland), no child benefit, and for grads another 9% student loan.

I've never worked anywhere that offered SS. But picking the point made above, is it only offered to high earners

Qyburn

By the way, how do people pay for their holidays by SS?

BlackKnightMonty

Qyburn said:

BlackKnightMonty said:

If we park the lazy tropes for a minute. Sal Sac has helped address a big underlying challenge. Wage compression. You see the lower downs have had a good run of it in terms of pay growth. So now the difference between the postroom kid, team leader, and office manager is much less. Sal Sac is about the only perk left to higher earners. But Rachel doesn’t want us to have any perks. Which is why when you hit £100k you have 62% IT + NIC (67% in Scotland), no child benefit, and for grads another 9% student loan.

I've never worked anywhere that offered SS. But picking the point made above, is it only offered to high earners

Not at my employer; it’s available to all.

What I meant is that high earners are not entitled to anything.

no child benefits, or child care; or any of the other welfare you get as a low earner.

Sorry I could have been clearer.

katejo

Qyburn said:

BlackKnightMonty said:

If we park the lazy tropes for a minute. Sal Sac has helped address a big underlying challenge. Wage compression. You see the lower downs have had a good run of it in terms of pay growth. So now the difference between the postroom kid, team leader, and office manager is much less. Sal Sac is about the only perk left to higher earners. But Rachel doesn’t want us to have any perks. Which is why when you hit £100k you have 62% IT + NIC (67% in Scotland), no child benefit, and for grads another 9% student loan.

I've never worked anywhere that offered SS. But picking the point made above, is it only offered to high earners

I have salary sacrifice and have always been a standard rate tax payer (working for a university). 

Grumpy_chap

Qyburn said:

I've never worked anywhere that offered SS. But picking the point made above, is it only offered to high earners

There are no rules (set by Government / HMRC) that restrict SS to high earners, other than no-one can SS below NMW so it is, by default, not available to the lowest earners.

Cobbler_tone

Qyburn said:

By the way, how do people pay for their holidays by SS?

Probably terminology. Purchase additional annual leave via SS.