DH offered new job - no season ticket loan

[redpickle]

DH's season ticket is about £5k p.a. While the salary is better, this is a bit of a downer. Could he ask the company if they would help in out? Is it an easy scheme to set up? At the moment he gets and interest free loan that is repaid through his monthly salary. The new company is smaller so don't currently offer this. Does anyone know if there are any benefits to the company of setting this up? (Like with childcare vouchers).

I assume if you don't have money up front you just have to pay weekly/monthly

No it's not a tax free scheme the same as childcare vouchers.

In fact it actually costs companies to offer season ticket loans as they must report as benefits in kind and pay class 1a NI on the value of the loans for anyone earning over £8500 per year.

Probably not what you wanted to hear sorry.

Well the monthly tickets cost more but you could also see if there is a "commuter club". Some rail companies now offer this interest-free loan.

Back in the day I used to buy my season ticket on credit card, transfer to a new card that offered interest free balance transfer and then pay off over the year. You have to be disciplined - find a card that offers a suitable balance transfer and low fee for doing so, then once you have transferred the cost of season ticket across, do NOT spend on that card, and be sure that you can afford the monthly payments, etc. But this was a way for me to spread the cost and pay no additional interest fees, etc. as my workplace offered no season ticket loan either.

That is genius, thanks!

I was going to say 0% interest card too. A number are longer than a year. Just don't be tempted to use for other things etc.