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our company has changed the way we pay for our private medical, should i inform HMRC now or wait
pete1975
Posts: 145 Forumite
in Cutting tax
hi all, our private medical use to be shown on the P11D and tax code was adjusted, however the company i work for sent out a email at the start of April and stated from the April payslip it will now be '' including your taxable private medical premiums from your pay, tax in relation to the premiums will be paid monthly
instead at the end of the tax year'.
we are a family of 5, so and looking at my total deductions and comparing against the march payslip, its around £226.00 my wage has reduced this month. However my tax code is still the same at 631L which has been the same since last year.
Ive sent two emails to HR now and still waiting a reply, can I or should I be the one to advise HMRC or do they only accept that info from the company.
would i be right in saying that if the tax code is adjusted to remove the private medical from the taxable benefits, it should adjust my monthly salary so they cancel each other out so to speak and so my monthly pay goes up once the tax code is adjusted (i hope ive explained that correctly)
thanks
pete
we are a family of 5, so and looking at my total deductions and comparing against the march payslip, its around £226.00 my wage has reduced this month. However my tax code is still the same at 631L which has been the same since last year.
Ive sent two emails to HR now and still waiting a reply, can I or should I be the one to advise HMRC or do they only accept that info from the company.
would i be right in saying that if the tax code is adjusted to remove the private medical from the taxable benefits, it should adjust my monthly salary so they cancel each other out so to speak and so my monthly pay goes up once the tax code is adjusted (i hope ive explained that correctly)
thanks
pete
0
Comments
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Well - you don’t want to pay tax twice on the benefit. As it’s bring payrolled HMRC need to be informed accordingly. I am not sure if this can be removed by using your personal tax account. If not - telephone them.1
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As I understood things the employer has to notify HMRC before the start of the new tax year precisely so your tax code, for 2023:24 in this instance, can be adjusted thus avoiding the double taxation issue you seem to have encountered.
https://www.gov.uk/guidance/payrolling-tax-employees-benefits-and-expenses-through-your-payroll#how-to--register-for-payrolling-benefits-and-expenses1
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