B · Glossary
Benefit in kind
Non-cash perks from employment (car, health insurance, gym) that count as taxable.
A benefit in kind (BIK) is a non-cash perk an employer (or your own Ltd company) gives you, treated as taxable income. Common BIKs: company car, private medical insurance, gym, mobile phone, beneficial loans.
BIKs are reported on a P11D form each July. The BIK value is added to taxable income; the employer pays Class 1A NI at 13.8%.
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