Benefit in kind not taxed

Thrugelmir

Rocksolid said:

p00hsticks said:

Rocksolid said:

Obviously I don't think I should pay taxes on them, that's company stuff but HMRC claims on me!

Benefits in kind such as company cars, private medical insurance etc are indeed taxable. They're generally given to you by the company instead of them paying you a higher salary. The value will be declared by the company to HMRC in your yearly P11D and HMRC usually amend your tax code to collect the tax due from you.

https://www.gov.uk/tax-company-benefits

In the P11D is mentioned, but on the HMRC website there is the claim, I'm gonna call them to see if it's a mistake...

Unlikely to be mistake. Income tax is paid by the employee on benefits provided. 

Did you receive a copy of the P11d form?

Rocksolid

Thanks for the answers guys.

I honestly can't make my mind on this, the company didn't inform me about it, I just enrolled the benefits and the company was the one to pay, so for every benefit I have to pay taxes in UK?

Why they call them benefits when I have to pay? I'm talking about more than 250 pounds for few months of work, it's really annoying.

Now I have to expect the same from the new company where I have quite expensive benefits enrolled, at that point I'll pay by my pocket so I don't receive surprises, this is absurd...

NedS

Rocksolid said:

Thanks for the answers guys.

I honestly can't make my mind on this, the company didn't inform me about it, I just enrolled the benefits and the company was the one to pay, so for every benefit I have to pay taxes in UK?

Why they call them benefits when I have to pay? I'm talking about more than 250 pounds for few months of work, it's really annoying.

It's a benefit because you are only paying the tax on it, not the full cost. So, for example, assuming you are a lower rate tax payer, if your employer pays for private medical insurance for you and your family at a cost of £100 each month, it only costs you £20.

Normally you should have to option to opt out if you do not wish to accept the benefit and should discuss this with your employer.

sheramber

The company pays for the benefit but you pay tax on the value of the benefit which is treated as extra salary.

Rocksolid

Only in UK , what a joke!

JGB1955

Rocksolid said:

Only in UK , what a joke!

So... who do you reckon should pay the tax?

Rocksolid

JGB1955 said:

Rocksolid said:

Only in UK , what a joke!

So... who do you reckon should pay the tax?

Obviously the company, who else otherwise?

The biggest disappointment is that no one told me that actually I should have paid something, I just noticed on the HMRC website and now I have to deal with them...

Obviously is not nice to receive 270 pounds to pay and we are not neither in the middle of the fiscal year!

sheramber

What are these  benefits that you get?
You could always opt out of them and not have to pay extra tax on them.

Rocksolid

sheramber said:

What are these  benefits that you get?
You could always opt out of them and not have to pay extra tax on them.

Thanks, well as of today I have to pay, no choice.

I have life insurance and health insurance.

sheramber

So you get life insurance and health insurance for a reduced cost as instead of paying the full premium you only pay the tax due on the amount of the premium.