Gym/Health club

[scooterscot]

Since all those expense questions are floating about...

Under what circumstances could I make my membership payments a company expense? Employee benefit perhaps?

[ratewhore]

You can expense what the hell you want. The question is; is it a BIK on which you will pay tax?

[scooterscot]

This would also be true, for example, with BUPA insurance?

Think I need to talk to my IFA....

[b0redom]

This is kind of confusing. I'm sure I've had corporate gym membership before without having to declare it on my P11D?

[scooterscot]

I've had corporate gym membership before, as a permie, which got me a reduced monthly fee - that was it. Would like to know how I transfer the same benefits to myself now that I'm both employer & employee.

[Keldin]

BUPA ia a BIK
Discounted or full price gym membership that is paid for by your employer on a per person basis is a BIK.
If they have a deal with a gym chain where you get a discounted membership but you pay the fee yourself it's not a BIK.
If they have a deal with a gym chain where all their employees get membership but they don't pay per person its not a BIK.
At least thats what I've been told.

Just get PruHealth and get free gym membership.

K

[Clippy]

BUPA ia a BIK
Discounted or full price gym membership that is paid for by your employer on a per person basis is a BIK.
If they have a deal with a gym chain where you get a discounted membership but you pay the fee yourself it's not a BIK.
If they have a deal with a gym chain where all their employees get membership but they don't pay per person its not a BIK.
At least thats what I've been told.

Just get PruHealth and get free gym membership.

K

Wot he said.

How much are your premiums for Pru Health.

I see BUPA are now offering this as well.

[Keldin]

Wot he said.

How much are your premiums for Pru Health.

I see BUPA are now offering this as well.

Except the BUPA one is just a years free and its only at Fitness First.
PruHealth is for Canons, LA Fitness or Virgin, it's ongoing and and free as long as you go twice or more a week.
Costs less than £25 a month for PruHelath so even if you only take it for the gym membership its still less than half the price of a basic Canons membership which is over £60 normally.

PruHealth is not the same type of medical cover as BUPA though.

K

[scooterscot]

Sounds good, problem is I've joined the local Spa, it's a stressful life you know. £180 a month for me and my wife, it is wonderful though.

I've now talked with my IFA. Membership of the gym through the business is a BIK, no doubt about it. So will scrap the idea.

Thanks anyway guys...

[backlight]

Understand it is a BIK but is it a justifiable business expense. Ie - no requirement to pay CT on the expenditure?