Benefits in kind are benefits that employees receive from their company which aren’t included in their salary or wages. They’re also sometimes called ‘perks’ or ‘fringe benefits’. The formal payrolling of benefits allows employers to subject the taxable value of benefits in kind to tax via the payroll during the tax year.
Join the FreshPay team to guide you through the why and how of payrolling benefits in kind.
Date: 2 March 2023
Time: 2PM – 3PM
Not all benefits in kind are treated in the same way by the tax system. Some aren’t taxed, but others are, and it can be hard to figure out where you stand. In its very simplest form, where a taxable benefit is processed through the payroll it removes the obligation for the annual declaration via the P11D.
By the end of this webinar, you will have learned:
- How to register to payroll benefits
- What happens after registration
- What benefits can and what cannot be payrolled?
- Communicating with employees and HMRC
- Advantages associated with the payrolling of benefits for both employees and employers.