HMRC updates guidance on payrolling benefits in kind

24 Oct

HMRC updates guidance on payrolling benefits in kind

Guidance on payrolling benefits in kind has been revised and updated by HMRC.

The guidance on the Gov.uk website at http://bit.ly/1VNWlPP has been amended following feedback from users.

The new payrolling benefits in kind (PBIK) service has now officially launched and is available for registration for those intending to start or continue payrolling benefits and expenses in the 2016-17 tax year when new regulations come into effect.

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.