Corporate Gym Membership

[theemeestroo]

Can I pay for my gym membership through my company as a corporate membership/perk type thing?

[DaveB]

Yes but you'll have to declare it on your P11d and be taxed on it as BIK.

[Bluebird]

Yes but you'll have to declare it on your P11d and be taxed on it as BIK.

unless of course you are a yoga instructor...

[liley]

..under condition, that your company will book gym facility solely for employees (e.g. pool 19:00 - 20:00). As a director, it is enough when you pay for personal instructor. ..then If I remember well - no need to put on P11 as BIK (but not sure - need to be checked)

[ratewhore]

As a director, it is enough when you pay for personal instructor. ..then If I remember well - no need to put on P11 as BIK (but not sure - need to be checked)

[liley]

Sorry, I have already checked. My mistake - You should include the value of BIK in P11D (total cost before deduction of VAT). You should prepare paperwork: The board minute to pass "wholly and exclusively" test.

e.g.:
Meeting of the Board of Directors of XYZ Limited on...at....
It was resolved that the company approve the payment of an annual subscriprion to.... as part of their remuneration package.
This award has been made in recognition of their continuing contribution to the success of the company.
Signed......company secretary."

..and add to contract of employment by way of addendum:

e.g.:
" as of ...the company will pay your membership of.... This benefit-in-kind is to be treated as part of your remineration package with the company".


I hope this answer will satify you

[ratewhore]

you can have whatever remuneration package you see fit to provide to yourself but BIK rules still apply...