When does salary sacrifice gets paid ?

[heavenon]

Can someone with insight explain salary sacrifice ?
Let’s say I have been offered employment with 80k salary but I would like to sacrifice 30k of my salary to avoid having to pay 40% in tax.

Let’s say I would like to use my sacrificed salary portion to go towards a car purchase and luxury goods for example.

When would my salary sacrifice portion be credited/ used towards my purchases?

Upon signing the employment contract or at the end of my first year or at the end of the tax year? Is it different with every company or are there the same set rules for all companies? Can companies refuse to sacrifice a part of your salary?

I would appreciate all replies.

Not that I’m trying to avoid paying tax and buy luxury I have read you could get it “paid” in a form of vouchers, so I thought maybe it was possible to get a voucher from places like selfridges if given the choice.

Vouchers are cash equivalent - they are taxed in exactly the way as cash. You would be taxed on £80k.

How/ why do people have such a poor grasp on how money and tax works? I had to explain to my hairdresser the other week that you don't get taxed 40% of all earnings, just the portion over the threshold. She'd advised her son to not earn more. Bizarre.

As others have said, you’re massively misunderstanding both tax, and salary sacrifice

40% tax is not paid on your whole salary once you hit the threshold, it’s only paid on on the bit above the threshold, so giving up salary to save tax is nonsensical

Salary sacrifice is for a limited number of very specific schemes. You can’t just get paid in a different way to avoid tax

This is why tax/finances should be thought in schools

You pay BIK tax

@heavenon

Thank you all for your lovely replies.

It seems like I have misunderstood the whole
Scheme and will have to further look into it.

From what I read online was you could use your salary sacrifice towards a car monthly payment, gym membership benefits non cash benefits, electronic items such as PC or phones.

I was just wondering what it was like if I wanted to outright “buy” the car instead of monthly instalments

Not that I’m trying to avoid paying tax and buy luxury I have read you could get it “paid” in a form of vouchers, so I thought maybe it was possible to get a voucher from places
like selfridges if given the choice.

It also seems like it varies from employer to employer

You said in your first post ' to avoid paying 40% tax '

How can you be in a position to earn such a good salary but not understand this ?