01227 454627
Client Portal

HMRC statistics show total tax on Benefits in Kind increased to £3.3 billion

Posted: July 2, 2018

HMRC have published analysis of tax collection from Benefits in Kind which show that for the 2016/17 year the total tax raised has increased by 18% to £3.3 billion.

The main drivers of the increase is higher rates of tax on company cars, the increasing cost of private medical insurance and a tougher approach to the taxation of company vans. Company cars in particular have seen a significant increase with total tax collection increasing from £1.5 billion to £1.85 billion.

CLICK HERE TO FIND OUT MORE