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All the latest Payroll, HR and Time management industry news, keeping you up to date with policy changes and all things PayEscape.

10th January 2022

Payroll Updates: Taxable Benefits

Taxable benefits, commonly known as ‘Benefits in Kind’ are expenses and benefits provided to employees by their employers.

Most BIK’s (Benefits in Kind) need to be reported to HMRC, unless there are specific exemptions. These BIKs include the likes of company cars, private health insurance e.g., medical, or dental, payments or reimbursements where private/personal expenses are paid for employees, gym memberships....

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