Buy Down

[Stormproof]

Anyone put in for Buy Down of their hours? If so, how is it worked out? I'm looking to go down to 25 hours.

[dvbuk55]

AFAIK it's only available if your office is in modernisation mode and the hours are in excess of those required to run the office. I took it 9 years ago and went from 40 to 25 and got 11k, I was 59 and took my pension 10 months later when I was 60 so it was very beneficial but AFAIK there hasn't been any since that time in our office.

[fishtank]

Anyone put in for Buy Down of their hours? If so, how is it worked out? I'm looking to go down to 25 hours.

It's basically redundancy terms pro-rata of the hours you're selling Storm and btw nice to hear from you again.

[Stormproof]

I've filled in the paperwork, just got to wait on what offer they come back with.

Thanks FT. I pop in now and again but obviously keep quiet. Not got a lot to say anymore since I gave up the rep job and been on the happy pills

[slinder123]

just to remind you that the new rules on any buy down is that you pay tax and national insurance on them so be careful

[Stormproof]

Finally got the figure, £7,5k, so I'll be taking that and setting up a small business from home. The less time I spend at RM the better I reckon.