We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Redundancy & medical cover
jediknight49
Posts: 107 Forumite
Looking for a bit of advice.
I was made redundant 4 weeks ago. My company went into administration. I had company benefit of BUPA medical insurance, which lapsed the moment i was made redundant.
On the tax paperwork which i received from the administrators along with my P45, it has the full amount of cover on there. Obviously I am no longer able to get the cover, so how do I stand regarding the taxable element of it?
I can't see why i should have/pay over £1,000 in taxable benefit when I have only been in the scheme for 6 months.
Do i need to inform the tax office of this change or will they know and adjust my tax / refund accordingly next April?
I was made redundant 4 weeks ago. My company went into administration. I had company benefit of BUPA medical insurance, which lapsed the moment i was made redundant.
On the tax paperwork which i received from the administrators along with my P45, it has the full amount of cover on there. Obviously I am no longer able to get the cover, so how do I stand regarding the taxable element of it?
I can't see why i should have/pay over £1,000 in taxable benefit when I have only been in the scheme for 6 months.
Do i need to inform the tax office of this change or will they know and adjust my tax / refund accordingly next April?
0
Comments
-
Same happened to me about 5 years ago. I contacted HMRC and they were not minded to change it.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.8K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.4K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards