No BIK on wage slip

Victorwelldue

I've had a BIK for PMI for around a year but nothing shows on my wage slip. My gross pay & gross for tax are same figures on wage slip and my wage is as expected (i.e its not inflated to cover the BIK). I'm PAYE so don't complete a tax return. My employer did send me a P11D some months back that shows the BIK amount but the notes on there say its only needed if I complete a tax return.

Do I need to do anything? Should the BIK be stated on my wage slip?

[Deleted User]

Your personal allowance should be reduced by the BIK amount - what is your tax code? 

Victorwelldue

S1257L    

p00hsticks

Victorwelldue said:

I've had a BIK for PMI for around a year but nothing shows on my wage slip. My gross pay & gross for tax are same figures on wage slip and my wage is as expected (i.e its not inflated to cover the BIK). I'm PAYE so don't complete a tax return. My employer did send me a P11D some months back that shows the BIK amount but the notes on there say its only needed if I complete a tax return.

Do I need to do anything? Should the BIK be stated on my wage slip?

From memory, your employer will also have passed a copy of the P11D through to HMRC and they will eventually adjust your tax code to take it into account (at least that's how it used to work).

Dazed_and_C0nfused

And send you a calculation for 2021:22 showing the tax owed for that year.

The tax owed for 2021:22 will normally be collected by an adjustment to your 2023:24 tax code.

Victorwelldue

I see, OK that makes sense. So I guess my tax code will change in the new tax year.

Dazed_and_C0nfused

For that to happen I would expect you to have at the very least received an updated tax code for the current tax year.

Without that it seems possible HMRC haven't yet acted on the P11D (assuming your employer filed it with HMRC in the first place).