Taxed on medical insurance

jimmydean1

Started paying more tax because of my company's medical insurance and immediately told them to take me off it. I updated my information on the HMRC gateway to advise that I no longer receive the benefit but I keep getting taxed on it every month. Will this be sorted next tax year in April and will I get a refund?

Dazed_and_C0nfused

jimmydean1 said:

Started paying more tax because of my company's medical insurance and immediately told them to take me off it. I updated my information on the HMRC gateway to advise that I no longer receive the benefit but I keep getting taxed on it every month. Will this be sorted next tax year in April and will I get a refund?

Why do you think you would due a refund?

If medical benefit has been provided by your employer in the current tax year then you will be taxed on it for the entire tax year, just like you would a company car you gave back part way through the tax year.

What might change though is the amount of the benefit.

What was declared on your P11D for the 2024-25 tax year?

Isthisforreal99

Most people would see private healthcare a definite perk these days. Perhaps a knee jerk reaction to paying a bit more tax?

poseidon1

jimmydean1 said:

Started paying more tax because of my company's medical insurance and immediately told them to take me off it. I updated my information on the HMRC gateway to advise that I no longer receive the benefit but I keep getting taxed on it every month. Will this be sorted next tax year in April and will I get a refund?

You may come to regret your hasty action when stuck in a long NHS queue for elective treatment, which you could have had quickly under your private medical cover.

I highly valued my benefit in kind medical cover during my working life, and miss it now thrown back on an overstretched NHS during retirement. 

Hopefully you have not similarly  cancelled any PHI which would pay a percentage of your salary to retirement age, if you ever became long term sick.