Tax On Benefit In Kind
Ridgefield Consulting's Accounting Advice
English - July 07, 2021 08:00 - 8 minutes - 6.14 MBBusiness accounting tax accountants oxford oxfordshire Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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In this episode, we will be covering everything you need to know about what a benefit in kind is to how to calculate what tax you will need to pay on it.
If you receive any other benefits as part of your employment in addition to your salary, it may be the case that you are receiving a benefit-in-kind also known as a BIK for short. You might see it as a workplace perk, or sometimes they’re referred to as fringe benefits, but what you need to be aware of, is that although they can seem like a nice added bonus, they may not necessarily come for free.
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