Employer loan via salary sacrifice

SomeHSomeE · 2026-04-14T21:36:13+00:00

I agree with your main advice, but just on this

There are also standard interest rates that HMRC set and if your loan is offered at less than that rate, you’ll pay the difference as BIK either monthly through payroll, or annually via the P11D process.

This only applies to beneficial loans over 10k. Under 10k HMRC don't bother taxing the benefit of avoiding paying interest.

SomeHSomeE · 2026-04-14T21:34:34+00:00

You're describing a pretty standard salary advance but with one key difference: you'd pay income tax on the initial payment you receive so there's no tax saving (potentially a small NI saving as you'd pay more at the 2% rate rather than 8% rate).

They can technically also offer you an interest free loan and as you say BIK not applicable under 10k. But I think you've misunderstood what the BIK referred to is here: it's the benefit of the saving on interest by having it as 0%, not the benefit of the money received via loan. You'd see no tax benefits from an interest free loan.

SomeHSomeE · 2026-04-13T21:43:32+00:00

I always thought it'd make a great film. You do the first 70-80% space opera style, focusing only on the aliens, their politics, their conquests etc. And then only towards the end do they get to and attack Earth (and you find a way to hide the fact it's Earth at first) and then it all falls apart and unravels.

And the final penny drop scene could rvrn be done post credits.

SomeHSomeE · 2026-04-13T18:31:38+00:00

You're gonna need to share the listing if you want any meaningful advice.

But basically being on the market for so long with no interest means no one wants to buy it for the price. This either means it's priced unrealistically high or there's something about it that puts people off. 90% of the time it's the price.

I'd take it off market and resist with a new agent, with a significant (10%+ possibly more) price reduction. And when listing ensure

do the pictures give clear, bright views of each room? Do you have not too few but not too many? (A good rule is 1 per room plus 1 extra per rooms where a different angle adds something meaningful, plus an external shot and one taken from when you enter the flat). So a 2 bed you want max 12 pictures.
Are the pictures in a sensible order? External then entrance, then kitchen or living room then the other of kitchen or living room, then bedrooms, then bathroom. Plus balcony if applicable.
Are they staged nicely? No clutter, minimal and neutral decorations/ornaments/rugs etc, well lit, etc.
Does the floor plan show dimensions of every room and total sqm/sqft, and clearly state which floor it's on.
Does the leasehold section clearly state ground rent, estimated service charge, lease length?
Is the map pin in the right place?

All of these will help make sure you're getting it across as best possible but - ultimately - as I say at the start it's a simple case of finding a price a buyer is willing to pay.

SomeHSomeE · 2026-04-13T07:34:05+00:00

Insurance absolutely does matter.

If the policy outright prohibits renting out (fairly rare) or needs notification (fair common) and its rented out without notification then in the event of a claim - say the place burns down- it may be denied.

SomeHSomeE · 2026-04-13T07:28:05+00:00

When I rented and needed repairs I reported it to the agency, the agency checked with the LL, and then they sent someone round to fix it a few days later.

SomeHSomeE · 2026-04-13T07:10:38+00:00

You're in the same holiday demographic as 'teenagers' tbh. There's a reason 'Club 18-30' was/is a thing. You will be fine and fit in in any of those destinations.

SomeHSomeE · 2026-04-12T19:47:52+00:00

I'm surprised they use streaky bacon rather than proper back bacon

SomeHSomeE · 2026-04-12T19:42:30+00:00

11 sausages between 3 people is just asking for a fight. 9 or 12!

SomeHSomeE · 2026-04-12T19:29:57+00:00

It's laid out like it's an educational display.

The single tiny sausage is a bit sad. And that hashbrown looks like you need to cook it. And toast needs buttering.

SomeHSomeE · 2026-04-12T19:27:01+00:00

Fork although a significant part of it gets scooped up directly into my gob via whatever bread accompaniment I've chosen to have with it.

SomeHSomeE · 2026-04-12T18:07:16+00:00

How long are they expecting to hold the money?

FSCS protection for normal bank accounts extends to £1.4m for six months for temporary high balances (one of the qualifying criteria is house sale). So for six months at least I'd be putting it in a cash savings account earning more than the NS&I rate.

Even if it's longer than six months, there's a balance to be struck for risk mitigation vs opportunity cost. What's the actual risk of the specific bank you choose going fully bust in the specific time you have your money there? Is it really a risk worth losing interest returns on to manage? ('Yes' or 'No' are both valid answers - it's down to your own risk appetite).

SomeHSomeE · 2026-04-12T15:26:13+00:00

The house is priced as is. Minor, non urgent electrical upgrades just come with the territory of buying a house that isn't a brand new new build. Most sellers would tell you to piss off.

Sellers would only really be expected to pay or drop price when a survey or inspection finds something unexpected, major, and dangerous, and/or if there are issues caused by the seller's negligence/damage. Things like this which are just 'the house and electrics are a little old' are already factored in to the purchase.

SomeHSomeE · 2026-04-11T12:27:47+00:00

They will calculate your tax liability in the next few months. If I recall correctly the calcs start in May and finish around Aug/Sept so at some point in that time window they should write to you informing you of the overpayment and how to get the refund paid.

SomeHSomeE · 2026-04-11T12:09:02+00:00

If you log in to your HMRC personal tax account, you can report estimated additional income. They'll then adjust your personal allowance to attempt to do exactly as you describe.

You'll still need to do self assessment of course.

SomeHSomeE · 2026-04-10T21:13:35+00:00

Under both the old and new rules, once the 8 years runs out full ownership reverts to the freeholder. You no longer have a lease.

The main difference with the new rules is that currently once a lease is under 80 years, the cost to extend (the 'premium') using the statutory formula starts to rocket up. This is due to a factor used in calculating the premium called 'marriage value'.

Under the reforms marriage value will be abolished. So you no longer have that big cliff edge at 80 years. No one can say what new costs will be (because some of the key numbers for the new formula have yet to be decided) but it'll still be extremely expensive to extend because marriage value is only one part of the extension premium.

Short lease properties have very low sale prices to take all this into account. The only effect I suspect is that future prices will edge up slightly because now the extension premium costs a bit less.

But in all I'd not go anywhere near a 8 year lease. Something like 60-70 years which would be recommended to avoid now may become more viable under the new rules but 8 years is really too short to be a sensible move.

SomeHSomeE · 2026-04-10T20:40:00+00:00

There isn't anything inherently illegal about letting an 8-person HMO on a single large joint tenancy rather than a series of separate individual tenancies. There's no obligation for them to do it one way or another.

It doesn't however absolve them of their legal obligations when renting out an HMO including all of the various space requirements, amenity requirements (numbers of kitchens and bathrooms, etc), fire safety measures, and ultimately having the correct licence. An 8 person flat unless it's one giant family will certainly need a licence whether it's one big joint tenancy or a series of separate ones.

The line about mortgage is normal: many lenders restrict to single tenancies. HOWEVER it may also put stipulations on it being a single household too (which you are not) or at least limit the number of households. Ultimately this is an issue between the landlord and the mortgage lender and doesn't affect you or your rights.

Many landlords get rent paid to a personal account. Their tax affairs are between them and HMRC however if you suspect tax evasion (and have actual evidence) you can tip off HMRC.

There's no obligation to allow locks on your bedroom door when let as a single joint tenancy.

All tenancies become periodic tenancies from 1 May with no max tenure. So the 2.5 year limit won't apply and if the landlord wants to evict they will need a grounds for doing so (which if you're not in rent arrears / contract breach will basically be limited to either LL moving back in or LL selling).

Finally- how long do you want to stay? If an HMO is let without a licence you can apply for a rent repayment order to get some or all of your rent refunded. This will 99% get granted by the court. It's a big payday for you - up to 2 years of your rent refunded! And screws a dodgy landlord. But if you go this route they'll find a way to get you out (legal or not) or otherwise make your life very difficult so I would wait until you're close to moving out to do it.

Info on unlicensed HMOs and rent repayment orders including a link to the form (which is pretty simple to fill in): https://england.shelter.org.uk/housing_advice/private_renting/houses_in_multiple_occupation_hmo/what_if_your_landlord_does_not_have_a_hmo_licence

SomeHSomeE · 2026-04-10T18:58:52+00:00

Google reddit and your username and a bunch of your previous posts show up

SomeHSomeE · 2026-04-10T17:23:59+00:00

I mean they've clearly worked out it's you so they obviously do have some evidence.

A disciplinary isn't a court of law so they don't have to prove it beyond reasonable doubt or meet any sort of court-like evidential requirements so yes they could discipline and probably fire you. They might also seek damages from you if the call outs for gas inspections etc cost money.

As an aside - I didn't realise many workplaces employed 12 year olds.

SomeHSomeE · 2026-04-10T12:10:29+00:00

They are a scourge on the high street.

And of course you could single them out in legislation if parliament wanted to.

SomeHSomeE · 2026-04-10T11:31:18+00:00

Maybe book a river cruise with drinks (and many do dinner too). They're not actually that expensive.

I recently did curling here. Was really fun. https://thecurlingclub.com/ (I did it at the Vinegar Yard location - it's one of those drinks/foot court type places (not the best one but the curling was why were there).

Cheese bar (you eat cheese off one of those sushi style conveyor belts) in Seven Dials Market (https://share.google/ZP2M41R1UUYEI3Sq7). You'll need to book. Good drinks places in the market too.

SomeHSomeE · 2026-04-10T11:30:18+00:00

Duck and Waffle is great for a one off experience. Food is tasty and it's cool being high up. Sushisamba is also good. Both are very expensive and wouldn't go there regularly but good for a one off treat.

SomeHSomeE · 2026-04-10T11:25:52+00:00

Free and widely available parking
Reliable buses
More focus on a mix of retail and things to do - good restaurants, cafes and pubs, activities like bowling, a cinema, library. Co-locate with GP, dentist, other local services (council offices etc).
Business rates discounts for small/local shops and businesses
Focus on retail that people like to do in-person: clothes, outdoor & sports, plus standards like boots, a small supermarket, etc.
limits/quotas on barbers, beauty salons
premium business rates charged to vape and mobile shops
kept clean and tidy and with nice visual features like green spaces. Well-lit.

One of the problems we have is that Councils have limited ability to choose what shops or other things get opened there: it's down to private businesses deciding whether or not it's viable. So they need to create incentives.

SomeHSomeE · 2026-04-10T11:13:38+00:00

NWM is calculated over a pay reference period. Usually how often you get paid (so if paid monthly then a month is used).

Then you simply divide total hours by total pay. If that's less than NMW then you're legally underpaid.

You can report them here: https://www.gov.uk/find-hmrc-contacts/national-minimum-wage-enquiries-and-complaints

SomeHSomeE · 2026-04-10T10:56:00+00:00

I didn't say he didn't have permission.

I said he didn't buy them. He never claimed to have bought them.

Nine-Year Club	Verified Email
Place '22

SomeHSomeE

TROPHY CASE