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Tax on benefits in kind This advice applies to England Print Benefits in kind are benefits which employees or directors receive from their employment but which are not included in their salary cheque or wages. They include things like company cars, private medical insurance paid for by the employer and cheap or free loans. Some benefits in kind will not be taxed. Tax-free benefits in kind Some benefits in kind are tax-free and should not be entered on your tax return if you get one.

These include: contributions paid by your employer into an approved occupational or personal pension scheme for you as an employee.

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HM Revenue and Customs defines this as the cash equivalent value. This is usually the amount it costs your employer to provide you with the benefit. There are some exceptions to this, where there are special rules for calculating the taxable value of the benefit in kind. An example is company cars which have special rules.

Common benefits in kind If you complete a tax return and you get taxable benefits in kind, you must enter the value of them on the Employment page of your tax return for the relevant year. For more information about how to declare benefits in kind for tax purposes, see under heading How tax is declared and paid on benefits in kind. The following paragraphs list some of the more common benefits in kind. Below market rent means below what you would normally expect to pay to rent a similar property.

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Annual value is usually taken to be the same as gross rateable value. Exceptions There are three exceptions to this rule. No tax will have to be paid on the accommodation if: it is video what is money how to make it for you to live in the accommodation to perform your duties properly, for example, if you are a school caretaker, or it is provided so that you can perform your duties better than you could without it and it is customary in that type of employment to have accommodation provided, for example, if you are a police officer, or the job involves a special security risk and special accommodation is provided for your safety, for example, if you are in the armed forces.

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Moving because of your job If you have to move because of your job, you may be entitled to relocation expenses. But you will not have to pay tax if one of the three exceptions applies. Hotels and temporary accommodation The cost of hotels and temporary accommodation while travelling for business purposes is not taxed. However, if you are given an overall cash allowance to cover these costs, this will be taxed, but anything you spend on accommodation for the purpose of your job can be deducted from your taxable income, as a tax relief.

However, other moneys and payments for benefits not related to employment do not constitute earnings for benefit purposes, for example, alimony payments, lottery winnings or inheritances. You are responsible for reporting all your income You are responsible for reporting any income paid or payable to you, as well as any benefits, cash or other, received from an employer or income that you earn from any self-employment activities. For us to be able to determine whether the amounts or benefits paid or payable are earnings for EI benefit purposes, we must determine the true nature of the payment. To reach this decision, we may ask the following questions: what does the payment represent, meaning, the amount and type of payment who made the payment why was the payment made, meaning the reason for the payment and the terms and conditions under which the payment was made, and where did the payment come from and where is it going The earnings considered are the amount before deductions.

For more information about tax on accommodation as a benefit in kind, including example calculations, see the GOV. UK website at: www. Cars and vans Tax is payable on a company car if it is available for private use by an employee, company director or their family or household.

In nearly all cases, private use includes journeys between home and work.

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The tax charge is lower for cheaper cars, cars with lower CO2 emissions and cars that can run on alternative fuels. Cars are also not taxable if: they are provided only for business, and they are not available for private use, and they are not actually used privately. However, if all you do is take the van home with you overnight and do not use it for any other significant private purpose, no tax will be due.

Childcare expenses If you pay childcare costs yourself, you cannot claim these costs as relief against tax. Neither can you claim travel expenses to and from work for childcare reasons.

If your employer provides a nursery at your place of work, usually this will be completely free of tax and National Insurance Contributions NICS. From 6 Aprilif you start to get childcare vouchers from your employer under the Employer Supported Childcare Vouchers scheme, some of the payment you'll receive is tax free. How much you get tax free depends on what rate of tax you pay.

These limits only apply if you are getting vouchers from your employer for childcare.

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They do not apply if you are getting a benefit in cash. If you get more than the weekly tax free limit in vouchers you will have to pay tax and NICs on any amount above this. If you are already in the scheme, these changes won't affect you.

Personal Income Tax (PIT)

Accepting childcare vouchers from your employer will usually mean a cut in cash pay. This could reduce your salary to a sum below the lower earnings limit for NICS, and may affect your right to certain benefits. Accepting childcare vouchers can affect how much tax credit you can claim. The working tax credits system provides support for childcare costs but where costs are covered by vouchers, they cannot be included as part of your claim.

UK provide a calculator tool which aims to help you decide whether you are better off taking the vouchers or not. Use this tool with caution if your income goes up or down, as most tax credits are based on the income for the year before, while tax and national insurance are based on the current tax year.

You can find the calculator on the website of GOV. UK at: www. Clothing Work and safety clothes provided by your employer, for example, overalls and protective helmets or shoes, are not liable to why some can make big money. However, any normal clothing provided by your employer is taxable.

You may be able to claim a deduction for goods or services purchased 'wholly, exclusively and necessarily' for the purpose of your job. Fuel Fuel paid for by an employer or provided by your employer for personal use is taxable. Holidays If you receive a free holiday, you will have to pay tax on its value. A payment to a travel agent for a holiday abroad would be taxable. They include cheap airline seats for airline staff, cheap rail travel for railway employees and goods or services provided by a business which are offered free or at a discounted price to employees.

They are taxable. They do not include company cars and fuel, loans, accommodation or mobile phones, as there are special rules for these items.

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Cash allowances given in lieu of job-related benefits are taxable for all employees. Payments to miners in lieu of coal, however, are not taxable. Loans Interest-free and cheap loans are taxable.

Meals Meals provided in a staff canteen which is available to all staff are not taxable and you do not need to list them on your tax return. In addition, if you get free or subsidised meals at work, and the meals are available to all employees, they will also not be taxable and do not need to be listed on your tax return. This extends to tickets or vouchers given by employers for free and subsidised meals where the meals are not provided by types of additional earnings are not the Internet employer as long as they are provided at your place of work.

If the employer gives other meal or luncheon vouchers to use away from your place of work, see under heading Vouchers.

What is Taxable, What is Not

Medical insurance If your employer provides private medical insurance, this is taxable. Mileage allowances If you get a mileage allowance for using your own car, van, motorbike or bicycle for work journeys, these payments are not taxable as long as they are within limits set by the Government. The limits are called approved mileage rates. Information about current approved mileage rates can be found on the website of GOV.

Tax-free mileage allowances apply only to work journeys, that is, journeys you have to make in the course of doing your job. Work journeys include, for example, delivering goods or making calls to customers.

They do not include journeys to and from types of additional earnings are not the Internet normal workplace.

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You can find more information about using your own vehicle for work on the GOV. UK website at www. Overnight expenses If you stay away from home overnight on business and you spend money on personal expenses, for example, newspapers, private telephone calls or laundry, you can have a limited amount of these expenses paid back by your employer without the payment being taxable.

This limit applies per move.

Additional incomes

You can find more details on the GOV. Shares Generally, the value of shares transferred to an employee or director at a discount is liable to tax. There are, however, a number of schemes which can give tax and National Insurance Contribution advantages if you obtain shares usually in the company you work for at a discount or for free.

If you need further advice on how shares are treated for tax purposes, consult a specialist adviser, or see Help with tax problems. Training If your employer pays for a training course relating to your job, the value of the payment made by your employer is not taxable.

Employment Insurance (EI) and the various types of earnings

This exemption includes extra costs such as travelling to and from the course and any costs in connection with an assessment of the training — for example, the cost of sitting an exam.

If your employer pays for your training course in order to retrain you for another job, the value of the payment made by the employer is not taxable. For more details, see Tax reliefs.

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Travelling expenses If your employer reimburses you for the costs of travelling to and from work types of additional earnings are not the Internet pays these direct, for example, by buying a season ticket for you, the value of this benefit is generally taxable.

However, you can claim tax relief on any travelling expenses paid by your employer to cover the cost of journeys made by you as a necessary part of your job, excluding journeys to and from work. For tax treatment of mileage allowances, see under heading Mileage allowances. Vouchers If you get vouchers, including cheque vouchers which are exchangeable for goods and services, you will be taxed on the cost to your employer of providing the voucher and these goods and services.

Childcare vouchers are an exception. Cash vouchers, such as Holiday Stamp schemes used in the building industry, are subject to tax in all cases.

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If the voucher can be exchanged for cash, the tax will generally be paid through PAYE, that is, it will be deducted from your pay, as if it were a payment of cash. How tax is declared and paid on benefits in kind If you get any taxable benefits in kind, and you complete a tax return, you must enter their value on the Employment page of your tax return for the relevant year, even if tax has already been paid on them under PAYE.

Taxable Income vs. Nontaxable Income: What You Should Know

Your employer makes the return on the form P11D, which lists the benefits and expenses for the relevant tax year. You should get a copy this form by 6 July following the end of the tax year. If the benefits in kind are not included in your tax code for the year when you receive them, the tax on them may be collected after the end of the tax year.

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If you do not complete a Self Assessment tax return, you may receive a form P telling you about an underpayment or overpayment of tax. Did this advice help?