MegaSack DRAW - This year's winner is user - rgwb
We will be in touch
basically looking at a new bike on c2w scheme. I have 2 jobs and am in the higher tax bracket. my accountant tells me that it has to come through one of the employers and basically i will only qaulify for the lower tax saving.
is this correct?
if it is it seems very unfair anyone had the same and offer any advice?
cheers
It's salary sacrifice so needs to be deducted from your salary at one of the jobs. The deduction is pre-tax so the saving is whatever effect that has on the tax you pay, it's not about qualifying for higher or lower savings.
As kelron, the savings you make are directly related to the tax you're paying via that specific employer as its a salary sacrifice.
I've got to ask though, and can't help thinking it's a troll to be honest but:
i will only qaulify for the lower tax saving... if it is it seems very unfair
Why would it be unfair that even though you earn more you qualify for the same as someone who earns less?
The most unfair thing about C2W is that it offers greater savings to those with the most money. It is the way it is but suggesting that its unfair that you're not entitled to more because you're "significantly richer than yow" is ridiculous.
The obvious answer is to buy 2 bikes, 1 through each employer.