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Tax & NI to pay on BIK when already salary sacrificing for pension
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Victorwelldue
Posts: 114 Forumite
in Cutting tax
I'm trying to figure out how much tax & NI I would need to pay for a BIK (private medical insurance).
Salary sacrifice for my pension takes me down from £60K to £30K. The BIK value is £1200 so how much would I have to pay per year in tax & NI for this benefit?
Salary sacrifice for my pension takes me down from £60K to £30K. The BIK value is £1200 so how much would I have to pay per year in tax & NI for this benefit?
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As a basic rate taxpayer £240 tax - no NIC on benefits in kind unless convertible into cash.1
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