Vocational Training Courses at Lancaster University
Benefit: Vocational Training Courses at Lancaster University
Provider: Lancaster University
Background: You can now elect to receive the benefit of undertaking a vocational course at Lancaster University as a salary sacrifice option, making savings on tax and NI. In order to receive this benefit you will be required to agree to a reduction in your salary equivalent to the price of the course. This means that you will make significant savings compared with paying for the course out of your net pay. This benefit can only be selected at annual enrolment and must be selected prior to a fee being paid. You will not be able to elect for this benefit on a backdated basis. Vocational courses are those relating to your current or future role at the University.
Before selecting this benefit please confirm with the OED Team (01524 510628) that the course can be categorised as vocational.
You will need to re-select this benefit during the annual enrolment window.
Flexible Benefits Options: You can enter an amount that you wish to sacrifice towards vocational courses up to £10,000.
Amendments to Benefit: This benefit can only be selected at annual enrolment.
Tax and NI implications: This is operated by salary sacrifice. You will save tax and NI on this benefit.
Savings: Based on selecting course fees of £2,000 a member of staff on £25,000 would save approximately £588.00 on the cost of the course.
How do I get the benefit? The course has to be checked that it relates to the employee’s role at the University and so meets HMRC regulations for tax & NI deductions. To do this, please send details of the course to Jean Bennett, OED, Human Resources who will arrange for this assessment to be made.
The Finance Division will verify course fees with Registry and CETAD as appropriate. The salary sacrifice amount will be automatically shown on your payslip each month.