Payrolling Benefits In Kind

Supplementary guidance for payrolling benefits in kind has been published on the Gov.uk website.

You can view the new guidance here.

Statutory payrolling of benefits in kind (PBIK) comes into effect on 6 April 2016. Those intending to start or continue payrolling benefits and expenses in the 2016-2017 tax year must register with the PBIK service before that date.

Using the PBIK service will negate the need to report benefits and expenses on a P11D, with the exception of vouchers and credit cards, living accommodation and interest-free and low-interest (beneficial) loans.

Those who have previously payrolled these benefits informally can continue to do so but must still report them on a P11D. Employers must register before 5th April and inform employees of the changes. Full details on the employers responsibilities can be found here.

 Payrolling Benefits in Kind – Highland Payroll Services