For the record you get a 75% reduction, which is very employees entitlement..
Strictly speaking, not every employee is entitled to it. All new employees are, however.
Not to my knowledge.. 75% off any season ticket.. I’ve sorted a few of these out for staff and I’ve never come across an exception.
It is 75% off Standard Class season tickets, for annual or 6 month tickets only. The subsidy is 75% of the cost, up to a maximum subsidy of £2,750 for an annual ticket (ie ticket price of £3666.66).
Essentially it is a loan - say your ticket costs £3000, the company pays for it, then you pay back the loan over the next 10 pay periods at 25% of £300, ie £75. (it’s always 10 pay periods for an annual ticket, 5 for a six monthly ticket).
Note that the subsidy is treated as income so you pay tax and insurance on it through PAYE.