Taxable Benefit-in-Kind and Expenses Payments

The UK National Statistics Publications Hub announced that new statistical data on taxable benefits in kind and expenses is to be published on 29 June 2012 on the HMRC Website.  This will cover the tax years up to 2010/11.

The latest version of this publication is for tax year 2007/08 with projected figures for 2008/09.  However, the announcement advises that the methodology used to prepare these figures has changed; therefore, they will be re-issued.

Comment

Unsurprisingly, the last set of statistics showed Car, Fuel, Medical and Dental Insurance as the most ‘popular’ benefits.  The number of people receiving Car and Fuel benefits showed gradual reductions from April 2003 to April 2009, whilst Medical and Dental showed gradual increases.

I would not expect the figures on 29 June 2012 (up to April 2011) to show anything very different from this trend.

Further Information

• HMRC – Taxable Benefits in Kind Announcement
• HMRC – Expenses and Benefits Statistics 2007/08