Benefit in Kind

James187

I took a mortgage from my previous employer (I work in banking) which was provided at a discounted rate and therefore taxed as a benefit in kind. However, having recently moved jobs I am able to retain my mortgage (apparently a loophole where my mortgage provider can't force me to changed product) and am now wondering whether this is still considered a benefit in kind given that it is not provided by my current employer.

Any help much appreciated!

opinions4u

No, it isn't.

Tell the tax office!

BoGoF

opinions4u wrote: »

No, it isn't.

Tell the tax office!

Can I ask on what basis you reach that conclusion. Always been my understanding that this would still be considered as a taxable benefit.

zygurat789

I was under the impression that a benefit in kind was taxable because it was received as a consequence of doing a particular job and was, therefore, income from employment and taxed.
Once someone has changed jobs, it would, therefore, not be taxable.
However, I'm sure the taxman wouldn't let that through and has caught it somewhere else.