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Medical Insurance Tax In KInd Benefit - Whats It COsting Me
Joey122
Posts: 459 Forumite
in Cutting tax
I am a higher rate payer and each month my company pays £50 for medical insurance which is a benefit in kind.
My question is that over the course of 12 months this costs the company 600 pounds - What is it costing me in terms of tax relief and tax payments?
How is it worked out?
My question is that over the course of 12 months this costs the company 600 pounds - What is it costing me in terms of tax relief and tax payments?
How is it worked out?
0
Comments
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£50 x 12 = £600 @ 40% = £240 in tax.£705,000 raised by client groups in the past 18 mths :beer:0
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