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Is there anything I lose out on when my employer changes to "payrolled benefits"?
hoc
Posts: 593 Forumite
in Cutting tax
My employer has announced this upcoming change which I'm supposed to confirm but they have not communicated or explained anything other than the P11D will no longer be issued. I understand that my tax code would no longer be reduced by benefits in kind like private medical insurance and instead I would pay the tax itself directly. On my self assessment the tax would be included in the total so the benefit in kind would not be reported separately. Is there any financial gain or loss for me in particular with tax allowances?
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Comments
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It should make no difference (other than possibly some small rounding effects).1
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