WIBU to buy dh a £900 present through a salary sacrifice scheme at my work?

(36 Posts)
user1473509591 Mon 07-Nov-16 18:19:23

I can afford the monthly payments easily, and luckily i'm salaried. But my only issue is you pay it back over 36 months, and theres a part of me that thinks what if? what if I lose my job and I have to pay this back in one go?
It would be a huge help to my dh, he's wanted it for ages and it would be great for his work.

WWYD?

ChuckGravestones Mon 07-Nov-16 18:20:47

£900?

A - what is it?
B - would he do the same for you/has he given you presents of this value before?

FlapsTie Mon 07-Nov-16 18:21:24

Is it a bike?

swooosh Mon 07-Nov-16 18:22:48

iPad? Laptop? My work offers these sort of schemes too. I think I'd do it as long as I knew I was going to be there long term.

ThePinkOcelot Mon 07-Nov-16 18:22:58

If it's anything like the things on salary sacrifice where I work, the stuff work out much more expensive.

Yambabe Mon 07-Nov-16 18:25:45

If whatever you buy is for him rather than you you could find yourself (and your employer) in trouble with HMRC down the line as salary sacrifice means you pay no tax and NI on that payment each month and if it's not for you it doesn't meet the criteria!

RortyCrankle Mon 07-Nov-16 18:59:42

Personally I wouldn't, unless you have sufficient to pay it off in a lump sum should you leave/lose your job. I cannot ever imagine spending that on a present but it may be normal for you. I would definitely check on the interest rate you will be charged over three years.

Perhaps also check other stockists and prices. What is it you want to buy?

user1473509591 Mon 07-Nov-16 19:16:23

It's a Microsoft Surface Pro. No definately don't usually spend this much on presents, have price compared and it's not too much more expensive than getting it from Amazon! But would never be able to afford it in a lump sum. My job is secure and I have no plans to leave but you never know do you? Think that's why its making me so nervous 😂

user1473509591 Mon 07-Nov-16 19:17:35

And I looked through the FAQs and it says you can buy for other people smile

RoseGoldHippie Mon 07-Nov-16 19:21:17

I would - why not! You will know you have purchased it so, if your worried, put a little cash away each month so that you could pay it off in one go if the worst happened. Once it's paid off through the scheme (if all goes well) you will have some money put aside for something else! smile

SouthWindsWesterly Mon 07-Nov-16 19:25:45

Just buy it. And whilst your at it and if you can afford it, put a little aside each month just in case you do leave your job and that way, you'all have money towards it if that happens or a great fund at the end.

EveOnline2016 Mon 07-Nov-16 19:27:45

I did it last year to get iPad. I don't miss the money.

BaggyCheeks Mon 07-Nov-16 19:39:41

I would. DP got my laptop through work and got it substantially cheaper as the salary sacrifice comes off before tax, so the actual amount missing from his take-home pay is less.

HappinessLivesHere Mon 07-Nov-16 19:40:12

Don't do it!! We've had to return 2 faulty ones, different faults but both common ones. Tried contacting Microsoft who were beyond useless and they ended up hanging up on us!!!!! DP works high up in IT and questioned their methods for 'fixing it' so they hung up. In the end John Lewis refunded us.

scaryclown Mon 07-Nov-16 19:48:52

If you do do it, its another thing for them to factor in if the want you to leave..as then they can't guarantee the payments grin the power is with you as they would have to agree mutually a payment plan.

a £900 present though might be a mutual decision..if it essentially 'a computer' need might be met by less when it actually comes to it.. so don't want to advuse either way ...confused

ApproachingATunnel Mon 07-Nov-16 19:50:53

I would not do it purely because £900 is an awful lot of money for a present! Does he get you gifts on equivalent value?..

mammybops Mon 07-Nov-16 19:51:23

Be careful and check the new tax changes first. The last update I read basically stopped anything apart from childcare and pension from having a tax breaks through salary schemes so you might get hit with a huge BIK (Benefit In Kind) tax bill.

Cocklodger Mon 07-Nov-16 19:52:23

I think I'd either
A- leave it or
B- pay it off in bigger chunks, ie over a year or 18 months if thats possible, financially and with the agreement?
I'd never feel comfortable taking out such a long term loan, from anyone.

whirlwinds Mon 07-Nov-16 20:26:29

For one of those I would go for it smile Nice gift :D

HermioneWeasley Mon 07-Nov-16 20:29:34

I think it will be a taxable benefit - if you take that into account is it still a good price?

anyname123 Mon 07-Nov-16 20:32:17

These things can really cocktail up your pension cotributions I've been told, by someone clever and adult who u derating fs this stuff, ulike me.

Loaferloveforyou Mon 07-Nov-16 20:45:29

Yes, your pension contributions can be based on your salary after sacrifice and also any earnings related benefit will be affected.

However, given the value over 36 months this may make little difference to you (or it might who knowsgrin)

4yoniD Mon 07-Nov-16 20:52:59

I hate surface pros. Sure they look good, but they are a complete sealed unit (no screws, cannot be opened). The battery will run down so it won't hold charge in one to two years and it can't be replaced. If you drop it, Microsoft will not - as far as I know - replace the glass; It will be a replacement unit. So bye-bye harddrive. Also if the harddrive fails you can't easily remove it and slave it off to recover data. If you do get one, don't count on it lasting years and do backup data religiously.

By way of background, I work on an IT helpdesk and in the company we have a variety of HP laptops and Surface Pros. We now only let people order a surface pro after we have had a discussion with them about the problems - most people then go for one of the other devices!

user1473509591 Mon 07-Nov-16 20:55:49

Wow 4yoni, thankyou for the review! Can you recommend anything else? '

user1472419718 Mon 07-Nov-16 21:04:00

If he doesn't need one now, why don't you save up until you can afford one.

Why don't you just put away £25 a month and in 3 years buy him one (or whatever the equivalent is in 3 years). If you put it in a savings account you might even get a few pennies interest (I know, wishful thinking)

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