Season Ticket Loan

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  • bouicca21
    bouicca21 Posts: 6,514 Forumite
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    It might be worth doing your sums about the savings from an annual season ticket. For my journey I worked out that the savings were just about equal to my annual leave entitlement, so unless I planned to use the season ticket at weekends and other days off, there wasn't a lot in it. I started buying monthlies instead, so that I was sure I would get full benefit.
  • TrickyDicky101
    TrickyDicky101 Posts: 3,513 Forumite
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    I'd like to know where I can get a loan for a season ticket that is repaid through untaxed income - sounds like a great, albeit tax-evasive, idea.
  • Savvy_Sue
    Savvy_Sue Posts: 46,024 Forumite
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    TrickyDicky101 wrote: »
    I'd like to know where I can get a loan for a season ticket that is repaid through untaxed income - sounds like a great, albeit tax-evasive, idea.
    Well surely it's just another 'salary sacrifice' thing? Or it's not out of untaxed income?

    It's a very long time since I had an annual season ticket, but my employer at the time used to provide loans for them - Central London.
    Signature removed for peace of mind
  • jobbingmusician
    jobbingmusician Posts: 20,343 Forumite
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    There is another slightly worrying thing. Employers are not supposed to give tax free loans, so in theory you should also owe your employer interest.....
    I was a board guide here for many years, but have now resigned. Amicably, but I think it reflects very poorly on MSE that I have not even received an acknowledgement of my resignation! Poor show, MSE.

    This signature was changed on 6.4.22. This is an experiment to see if anyone from MSE picks up on this comment.
  • bouicca21
    bouicca21 Posts: 6,514 Forumite
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    When I used to get a season ticket loan it was under an arrangement sanctioned by HMRC. I expect it's still the same ...
  • burnoutbabe
    burnoutbabe Posts: 1,338 Forumite
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    interest free loans are allowed (under £8k or so)

    I've never seen an option for a pre tax loan though?
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