Jimmy Charles
Joined: 7/22/2024
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PMI (BIK) processed through payroll / Tax code deduction?
Hi all, My payroll team processes Private Medical Insurance (PMI) as a Benefit in Kind (BIK) through the monthly payroll. My tax code is 1214L, I have no other deductions. Is my tax code correct? Annual Salary - £72,000 Annual PMI cost - £1,365.96