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21 August 2012
Full details are not known, but a client who is a sports professional has been fined two weeks’ wages for misconduct. The employer appears to have simply reduced his gross salary by the two weeks’ pay and has thereby saved National Insurance and income tax
My client is a sports professional. It’s all ‘hush hush’ and I don’t really know the full facts but from what I am told it seems his employer has fined him two weeks’ wages for misconduct. My client has accepted the position and now all is well.
Ignoring bonuses image rights etc. let’s say that my client is paid £X per week. Looking at the P60 certificate it seems that in order to give effect to the fine all his employer has done has been to reduce his annual total gross pay by a sum equal to twice £X and so:
- my client has effectively had income tax relief in an amount equal to the fine levied;
- my client has avoided primary NICs on an amount equal to the fine; and
- the employer company...
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