MyCo provides me with private health insurance which I then declare on my P11D as a benefit in kind.
If I used up all the benefit in a particular category and had to pay an extra amount, could this be paid for by my company? The alternative would be to increase the premium to allow a greater ceiling on the claimable amount. My PMI provider has advised that some Companies do it this way to keep there premiums lower since only a handful of employees would reach the ceiling.
If MyCo did pay, I would naturally declare it as a BIK but would it be a deductable allowance?
TIA for any advice.
If I used up all the benefit in a particular category and had to pay an extra amount, could this be paid for by my company? The alternative would be to increase the premium to allow a greater ceiling on the claimable amount. My PMI provider has advised that some Companies do it this way to keep there premiums lower since only a handful of employees would reach the ceiling.
If MyCo did pay, I would naturally declare it as a BIK but would it be a deductable allowance?
TIA for any advice.
