The payments would come off before any tax or National Insurance was deducted, similar to workplace pensions
An online petition calling on the UK Government to allow people to pay their mortgage through their wages before any tax or National Insurance deductions are made, in a similar way to pension contributions, has passed the support threshold that triggers an official response.
The petition continues: “This would allow more people to become mortgage free sooner in life and put more towards their and their children's future. It could also help divorced couples, where people are having to start life all over again, on their own, at a late age. Jonathan said that higher rate taxpayers can make a saving of 40% in income tax and 2% in National Insurance, while employees who pay tax at the basic rate can make a saving of 20% in income tax and 12% in National Insurance.
He added that childcare vouchers and contracted childcare can also be paid for through salary sacrifice, although these arrangements are closed to new applicants . He added: “Salary sacrifice can also mean that there is the potential for your employer to negotiate corporate discounts for things like car parking, mobile phones, laptops, gym memberships, cars and bikes. But it could mean that you have less choice as they may only be available through selected providers.
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