A Guide to Benefits in Kind within your Payroll Process Download

From company cars to private medical insurance and travel expenses to childcare vouchers, Benefits in Kind (BIK) serve as a great way to remunerate your employees.

However, just because they are not part of the direct monetary salary that an employee receive, doesn’t mean they aren’t subject to taxes and other reporting requirements.

The initial challenge for any employer is to accurately identify which perks provided to employees qualify as BIK and are therefore subject to tax via the payroll system.

The criteria for this can vary, with some benefits being taxable under certain conditions and exempt under others.

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