How will benefits in kind show on your payslip?

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Benefits in kind (BIKs) don't pay out in cash in your payslip, but BIKs do count toward calculating your taxable income. They’re reported by your employer separately, and your tax code might be altered to reflect the value of those perks. For example, if you get a company car, its value is added to your annual income, potentially meaning you pay more tax. BIKs are a nice thing, but they’ll take a little out of your net pay.

Read us:  https://accountingbyte.com/what-is-benefit-in-kind/