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Posted Thu, 28 Apr 2022 13:46:53 GMT by Kenny
I've completed a Self Assessment each year, usually straight after my employer has provided me with my P60 and P11D. I receive Medical Insurance as a BIK; the P11D contained the value of this, which I plumbed into the SA under the "Taxable Benefits and Expenses" section. Since April 2021, my employer has started including the BIK on my payslip. My payslip now includes two figures, "Total Gross Pay" and "Gross for Tax": the latter is my salary plus the value of the BIK. On the online "check my tax code", I can see that my tax-free amount takes account of a "job expense". Now it's time to do my Self Assessment again, my understanding is this: since April 2021, I've been paying the tax on the BIK as part of my monthly wage, and I do NOT need to include it in the Taxable Benefits and Expenses section in my SA (as, if I did, I'd be effectively taxed twice). Is my understanding correct?
Posted Fri, 29 Apr 2022 10:35:57 GMT by HMRC Admin 19
Hi,

If the BIK is being taxed through payroll, there is no need to declare this as a taxable benefit. You are correct that if you declared it as a benefit you would be taxed again.

Thank you.

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