The information given is not intended to constitute tax advice, but is a representation of current legal provisions.
For specific advice on how this affects your company, you should speak to your Tax Advisor or your local HM Revenue and Customs office.
A summary look at the effects the 2014 Australian Federal Budget may have on you and your businesses as well as the economy. Post Budget presentation by Hanrick Curran, Chartered Accountants in Brisbane Australia
Payroll Webinar: The Essentials for Third Party Sick Pay in 2020Ascentis
This webinar discusses the proper taxation and reporting of the fringe benefit known as third party sick pay. It discusses what is and is not third party sick pay, how the taxation is affected by the status of the provider (is or is not the employer’s agent), when this type of payment is taxable and/or reportable and who is responsible for this taxation and reporting.
Payroll Webinar: The A to Z of Payroll Garnishments Part 2Ascentis
Tax levies and creditor garnishments can be some of the most complex tasks required of any payroll department. Payroll must understand all the laws that apply towards processing these types of garnishments backwards and forwards. It is sometimes even up to the payroll department to catch and correct any errors that have been made by anyone else along the way!
Precise and accurate compliance with garnishment regulation can help to reduce or eliminate the emotional and financial toll that can result from these unfortunate situations as well stave off any penalties that may result if processed incorrectly.
This webinar concentrates on processing garnishments, other than child support, in the payroll department. We’ll cover the federal rules for creditor garnishments, the IRS rules for federal tax levies, the various aspects of state tax levies, the key points for processing state creditor garnishments, how to handle voluntary wage assignments like payday loans and student loans. And that’s not all – we’ll also review the IRS Form 668-W.
This ppt highlights the impact of this budget in Insurance Industry i.e. how the policy owner, Insurer, value added service provider etc. will be impacted by the new budgetary policies.
A summary look at the effects the 2014 Australian Federal Budget may have on you and your businesses as well as the economy. Post Budget presentation by Hanrick Curran, Chartered Accountants in Brisbane Australia
Payroll Webinar: The Essentials for Third Party Sick Pay in 2020Ascentis
This webinar discusses the proper taxation and reporting of the fringe benefit known as third party sick pay. It discusses what is and is not third party sick pay, how the taxation is affected by the status of the provider (is or is not the employer’s agent), when this type of payment is taxable and/or reportable and who is responsible for this taxation and reporting.
Payroll Webinar: The A to Z of Payroll Garnishments Part 2Ascentis
Tax levies and creditor garnishments can be some of the most complex tasks required of any payroll department. Payroll must understand all the laws that apply towards processing these types of garnishments backwards and forwards. It is sometimes even up to the payroll department to catch and correct any errors that have been made by anyone else along the way!
Precise and accurate compliance with garnishment regulation can help to reduce or eliminate the emotional and financial toll that can result from these unfortunate situations as well stave off any penalties that may result if processed incorrectly.
This webinar concentrates on processing garnishments, other than child support, in the payroll department. We’ll cover the federal rules for creditor garnishments, the IRS rules for federal tax levies, the various aspects of state tax levies, the key points for processing state creditor garnishments, how to handle voluntary wage assignments like payday loans and student loans. And that’s not all – we’ll also review the IRS Form 668-W.
This ppt highlights the impact of this budget in Insurance Industry i.e. how the policy owner, Insurer, value added service provider etc. will be impacted by the new budgetary policies.
Imposte sul Reddito per le Persone Fisiche, Compresi i Lavoratori Autonomi e le Modifiche alle Assicurazioni Sociale e Sanitaria (Bart Waterloos, VGD/AVOS): Il Dott. Waterloos ha illustrato i cambiamenti principali nella legislazione fiscale del 2013: la tassazione degli individui fiscali è stata portata in alcuni casi al 25%, mentre la base fiscale rimane al 19%, e vi sono stati cambiamenti alla quantità di riduzioni fiscali ottenibili, alla tassazione sul reddito, sui benefit e sui dividendi. Le entrate della tassazione su questi ultimi andranno in favore dell’assicurazione sanitaria. D’ora in poi inoltre ci sarà una sola base di calcolo sia per l’assicurazione sanitaria che per la previdenza sociale, il che secondo il Dott. Waterloos significa che si pagheranno più tasse per avere lo stesso servizio che in precedenza.
NL Tax Advantages Sole Proprietorship vs Private Limited CompanyJürgen van de Sande
Workshop for Eindhoven Startups Foundation about Dutch Tax Advantages Sole Proprietorship (eenmanszaak) vs Private Limited Liability Company (besloten vennootschap, B.V.)
Questions? Contact me by:
Phone: +31 (0)40 244 42 88
Email: info@dewert.nl
Twitter: @jurgenvdsande
Tax Policy Reforms with focus on VAT & GST in India - JenaChidananda Jena
Updated 80 slides training material on Goods and Service Tax of India is designed keeping the Value Added Tax and General Sales Tax in the background. General tax reforms in major direct and indirect taxes of India are discussed as introduction keeping overarching taxation guides in background. Impact of direct taxation is analyzed with some original concepts and examples. Some of the concepts and most of the examples and computations demonstrated in VAT and GST section are also original of the author.
Travail 4m General Sale Tax (GST) 2 Goods & Service Tax (GST) in India _ JenaChidananda Jena
Training material on Goods and Service Tax of India is designed keeping the Value Added Tax and General Sales Tax in the background. General tax reforms in major direct and indirect taxes of India are discussed as intruduction. Impact of direct taxation is analyzed with some original concepts and examples. Some of the concepts and most of the examples and computations demonstrated in VAT and GST section are also original of the author.
Another tax year has started and, as always in the world of tax, nothing stays the same. There are a number of methods of
extracting funds from your own limited company and in this Briefing we consider the main options for extracting profit.
Fta brazilian taxadvices_for_international_investors Dec 2017Marcelo Couceiro
How doing business in Brazil is a basic summary of tax and corporate aspects international entrepeuners and executives need to understand on their strategic planning phase to enter in Brazil. We recomend as best practice request assistance to experts in order to carry out their business in compliance and adding value to your business.
A presentation given to the Xtraordinary Women in Business Network in Blouberg on 18 April 2013 by Chris Farquharson, Chartered Account and owner of True North Accounting.
TOPIC: Sole Proprietor vs. Pty: Legal meets Finance
So, they say – “Rome was not built in a day” and that is certainly true for any business. Most small businesses start off as sole proprietorships or even partnerships, simply in order to save costs. Some on the other hand because the other options are often widely misunderstood.
Is there really a cost saving and if there is, is cost saving really worth the risk?
An insightful morning was spent with Nicolene Schoeman and Chris Farquharson as they shared the legal and financial practical business solutions to these challenges.
Challenges faced by people with Dementia/Alzheimer's Disease - Simplyhealth/Y...SimplyhealthUK
The September results of the Everyday Health Tracker found that 30% of people know someone with Dementia/Alzheimer's disease. The biggest challenges they said people with Dementia/Alzheimer's face are knowledge and understanding of issues, access to care, services to live well at home, access to advice and support and access to diagnosis.
When asked about their future health concerns, 41% of women and 36% of men said they were worried about Dementia/Alzheimer's disease.
Attitudes towards the NHS - Simplyhealth/YouGov Everyday Health trackerSimplyhealthUK
In the second wave of the Everyday Health Tracker 56% of respondents said they don't think that the NHS can do everything across all areas of healthcare. When asked to prioritise 10 selected areas they felt the top five priorities of the NHS should be life threatening conditions, dementia/Alzheimer's care, mental health, chronic conditions and musculoskeletal. They gave less priority to everyday conditions like mobility, counselling/talking therapies, physiotherapy, skin conditions and chiropody. Across all ten areas satisfaction was relatively low - for example only 20% of people are satisfied with dementia/Alzheimer's care, as well as mental health. The area with the highest satisfaction is life threatening conditions at 52% and the lowest area of satisfaction is chiropody at 19%.
The Everyday Health Tracker also looked at what areas of health care people may be prepared to pay for. 69% of people said they'd paid 'some of the cost' or 'all of the cost' for the optician, and 67% for the Dentist. Less were willing to pay for the GP, just 24%.
Managing the health and wellbeing of an increasingly age diverse workforce to safeguard future talent. A 21st Century business challenge
In this white paper Dianah Worman OBE, Public Policy Adviser for Diversity at the CIPD, looks at the key facts and figures surrounding the age diversity of the UK workforce and potential of older workers to fill any skills shortages.
Between 2002 and 2032 the number of people over fifty will almost double from 9 million to 17 million. In 2012 over fifties made up 29% of the working population compared to 25% in 2002.
The UK Commission for Employment and Skills projects that in the next ten years there will be 13.5 million job vacancies but only 7 million people leaving school. Businesses could look to older workers to fill these job vacancies and plug any skills shortages. Naturally there are assumptions and concerns that businesses have around older workers such as health and wellbeing, absence management, and capabilities. This paper addresses the myths and the facts, and examines the different types of older workers.
Simplyhealth Advisory Research Panel Healthy Ageing report 2013SimplyhealthUK
Ageing Brits ignoring health warnings: New report investigates the health and wellbeing of older Britons.
We all know that health problems become more common as we age but when it comes to wellbeing, thousands of Britons are putting their heads in the sand and avoiding GP visits, according to new research published by the Simplyhealth Advisory Research Panel (ShARP). The poll of 1,000 people aged 40 to 75, found that most had noticed a deterioration in their health, with joint problems (59%), weight gain (57%) and low energy (51%) the most commonly reported changes they had noticed with age.
Simplyhealth dental survey - the hidden impact of poor oral healthSimplyhealthUK
Introduction
Encouragingly, the results of our recent dental survey indicate that a large proportion of British adults are aware of how the health of their mouth can impact on other elements of their health. However, it seems what isn’t so positive is that 20% of British adults do not perform simple tasks such as brushing their teeth twice a day, to help keep their mouth healthy
The Spring newsletter for Simplyhealth’s business clients.
Each quarter we publish a newsletter for our business clients which is packed full of information on key issues that will be of interest to anyone responsible for managing healthcare benefits.
In this white paper Patrick Woodman, Head of External Affairs at the Chartered Management Institute, discusses the importance of health in the workplace, not only for employees, but also for the bottom line.
The economy is of course an important factor when it comes to health and wellbeing at work. Managers are working longer hours and many organisations can’t justify giving pay rises when budgets are tight. This all impacts morale, stress levels and sickness absence.
However, Patrick highlights the true business advantages to be gained if employers invest in employee health. By implementing a well thought out health and wellbeing strategy, businesses can benefit from lower staff turnover, reduced sickness absence, and improved productivity and morale.
Patrick details some initiatives that employers can easily adopt, including examining leadership styles, to show how health and wellbeing can truly be good for business.
Simplyhealth back care factsheet for buisnessesSimplyhealthUK
7.6 million working days are lost every year due to work related musculoskeletal disorders.
We can help prevent back pain becoming a problem for your business.
Taxation implications for company paid healthcare for large employersSimplyhealthUK
This communication is directed at commercial customers only and is not aimed at consumers.
Please note that these examples are for illustrative purposes only. They are not intended to constitute tax advice, but are a representation of current legal provisions. For specific advice on how this affects your company, you should speak to your Tax Advisor, or your local HM Revenue and Customs office.
Further information on tax rates and how this affects you can be found at: www.hmrc.gov.uk
Annual Dental Survey 2012
Our seventh Annual Dental Survey has examined people's attitudes to dental health. We surveyed 11,785 British adults and found that fewer people are now struggling to find an NHS dentist. However, cost for many is still an issue for many:
• 36% don’t think that visiting the dentist is good value for money
• 54% are worried they won’t be able to afford dental care in the future
A lack of information
We also found that many patients are not given clear information about treatment or dental charges.
• Only 27% have found that during their check-ups their dentist provides them with a written treatment plan that includes charges
• 48% haven’t ever noticed that dental prices are explained by the dentist or clearly displayed in their dental practice.
We also asked whether people are aware of the symptoms and causes of mouth cancer, and whether they have any bad dental habits.
For more information please visit http://www.simplyhealth.co.uk
This white paper discusses the important roles that culture, leadership and
communication play in developing successful wellbeing strategies in the
workplace.
Professor Cary Cooper, a renowned expert in organisational psychology,
discusses the reasons for implementing wellbeing strategies. Although creating
a motivated, flexible and committed workforce may be the crucial driver
for employers, they should also understand the moral aspect to improving
employees’ wellbeing. Employees will respond negatively to wellbeing initiatives
if they believe they are merely being implemented to get them to work harder.
That is why harnessing the right culture within a workplace is important, so
there is an environment where employee wellbeing can flourish. Leadership
is key to developing this culture and its success relies upon the buy in and
cooperation of all leaders from the board down.
Communication is then vital as engaging with employees about the wellbeing
programme will help to demonstrate that it is ongoing and not just a fad.
Continually surveying employees to seek their views on the programme will
then ensure that it remains relevant and continues to meet their needs.
Simplyhealth's engaging employees through health and wellbeing reportSimplyhealthUK
Over the years, a lot of research has been conducted on the subject of employee engagement. Although health and wellbeing is only one factor in engagement, it is clearly relevant, both in direct terms through reduced absenteeism, and indirectly via supporting enhanced discretionary effort through generating a feeling of being valued. So what does this new research by Simplyhealth say?
For the past six years Simplyhealth has released a dental survey to examine people's attitudes to dental health. This year we surveyed 10,000 working adults and found that cost is continuing to force many people to put off visiting the dentist. Accessibility to dentistry has increased, but people have noticed a decline in the quality of care they receive.
There's also a lack of understanding about the information that dentists can provide, and although we worry about our teeth, many of us are not giving them the care they need.
DISSERTATION on NEW DRUG DISCOVERY AND DEVELOPMENT STAGES OF DRUG DISCOVERYNEHA GUPTA
The process of drug discovery and development is a complex and multi-step endeavor aimed at bringing new pharmaceutical drugs to market. It begins with identifying and validating a biological target, such as a protein, gene, or RNA, that is associated with a disease. This step involves understanding the target's role in the disease and confirming that modulating it can have therapeutic effects. The next stage, hit identification, employs high-throughput screening (HTS) and other methods to find compounds that interact with the target. Computational techniques may also be used to identify potential hits from large compound libraries.
Following hit identification, the hits are optimized to improve their efficacy, selectivity, and pharmacokinetic properties, resulting in lead compounds. These leads undergo further refinement to enhance their potency, reduce toxicity, and improve drug-like characteristics, creating drug candidates suitable for preclinical testing. In the preclinical development phase, drug candidates are tested in vitro (in cell cultures) and in vivo (in animal models) to evaluate their safety, efficacy, pharmacokinetics, and pharmacodynamics. Toxicology studies are conducted to assess potential risks.
Before clinical trials can begin, an Investigational New Drug (IND) application must be submitted to regulatory authorities. This application includes data from preclinical studies and plans for clinical trials. Clinical development involves human trials in three phases: Phase I tests the drug's safety and dosage in a small group of healthy volunteers, Phase II assesses the drug's efficacy and side effects in a larger group of patients with the target disease, and Phase III confirms the drug's efficacy and monitors adverse reactions in a large population, often compared to existing treatments.
After successful clinical trials, a New Drug Application (NDA) is submitted to regulatory authorities for approval, including all data from preclinical and clinical studies, as well as proposed labeling and manufacturing information. Regulatory authorities then review the NDA to ensure the drug is safe, effective, and of high quality, potentially requiring additional studies. Finally, after a drug is approved and marketed, it undergoes post-marketing surveillance, which includes continuous monitoring for long-term safety and effectiveness, pharmacovigilance, and reporting of any adverse effects.
Ozempic: Preoperative Management of Patients on GLP-1 Receptor Agonists Saeid Safari
Preoperative Management of Patients on GLP-1 Receptor Agonists like Ozempic and Semiglutide
ASA GUIDELINE
NYSORA Guideline
2 Case Reports of Gastric Ultrasound
Here is the updated list of Top Best Ayurvedic medicine for Gas and Indigestion and those are Gas-O-Go Syp for Dyspepsia | Lavizyme Syrup for Acidity | Yumzyme Hepatoprotective Capsules etc
share - Lions, tigers, AI and health misinformation, oh my!.pptxTina Purnat
• Pitfalls and pivots needed to use AI effectively in public health
• Evidence-based strategies to address health misinformation effectively
• Building trust with communities online and offline
• Equipping health professionals to address questions, concerns and health misinformation
• Assessing risk and mitigating harm from adverse health narratives in communities, health workforce and health system
Knee anatomy and clinical tests 2024.pdfvimalpl1234
This includes all relevant anatomy and clinical tests compiled from standard textbooks, Campbell,netter etc..It is comprehensive and best suited for orthopaedicians and orthopaedic residents.
Rasamanikya is a excellent preparation in the field of Rasashastra, it is used in various Kushtha Roga, Shwasa, Vicharchika, Bhagandara, Vatarakta, and Phiranga Roga. In this article Preparation& Comparative analytical profile for both Formulationon i.e Rasamanikya prepared by Kushmanda swarasa & Churnodhaka Shodita Haratala. The study aims to provide insights into the comparative efficacy and analytical aspects of these formulations for enhanced therapeutic outcomes.
Recomendações da OMS sobre cuidados maternos e neonatais para uma experiência pós-natal positiva.
Em consonância com os ODS – Objetivos do Desenvolvimento Sustentável e a Estratégia Global para a Saúde das Mulheres, Crianças e Adolescentes, e aplicando uma abordagem baseada nos direitos humanos, os esforços de cuidados pós-natais devem expandir-se para além da cobertura e da simples sobrevivência, de modo a incluir cuidados de qualidade.
Estas diretrizes visam melhorar a qualidade dos cuidados pós-natais essenciais e de rotina prestados às mulheres e aos recém-nascidos, com o objetivo final de melhorar a saúde e o bem-estar materno e neonatal.
Uma “experiência pós-natal positiva” é um resultado importante para todas as mulheres que dão à luz e para os seus recém-nascidos, estabelecendo as bases para a melhoria da saúde e do bem-estar a curto e longo prazo. Uma experiência pós-natal positiva é definida como aquela em que as mulheres, pessoas que gestam, os recém-nascidos, os casais, os pais, os cuidadores e as famílias recebem informação consistente, garantia e apoio de profissionais de saúde motivados; e onde um sistema de saúde flexível e com recursos reconheça as necessidades das mulheres e dos bebês e respeite o seu contexto cultural.
Estas diretrizes consolidadas apresentam algumas recomendações novas e já bem fundamentadas sobre cuidados pós-natais de rotina para mulheres e neonatos que recebem cuidados no pós-parto em unidades de saúde ou na comunidade, independentemente dos recursos disponíveis.
É fornecido um conjunto abrangente de recomendações para cuidados durante o período puerperal, com ênfase nos cuidados essenciais que todas as mulheres e recém-nascidos devem receber, e com a devida atenção à qualidade dos cuidados; isto é, a entrega e a experiência do cuidado recebido. Estas diretrizes atualizam e ampliam as recomendações da OMS de 2014 sobre cuidados pós-natais da mãe e do recém-nascido e complementam as atuais diretrizes da OMS sobre a gestão de complicações pós-natais.
O estabelecimento da amamentação e o manejo das principais intercorrências é contemplada.
Recomendamos muito.
Vamos discutir essas recomendações no nosso curso de pós-graduação em Aleitamento no Instituto Ciclos.
Esta publicação só está disponível em inglês até o momento.
Prof. Marcus Renato de Carvalho
www.agostodourado.com
Basavarajeeyam is an important text for ayurvedic physician belonging to andhra pradehs. It is a popular compendium in various parts of our country as well as in andhra pradesh. The content of the text was presented in sanskrit and telugu language (Bilingual). One of the most famous book in ayurvedic pharmaceutics and therapeutics. This book contains 25 chapters called as prakaranas. Many rasaoushadis were explained, pioneer of dhatu druti, nadi pareeksha, mutra pareeksha etc. Belongs to the period of 15-16 century. New diseases like upadamsha, phiranga rogas are explained.
NVBDCP.pptx Nation vector borne disease control programSapna Thakur
NVBDCP was launched in 2003-2004 . Vector-Borne Disease: Disease that results from an infection transmitted to humans and other animals by blood-feeding arthropods, such as mosquitoes, ticks, and fleas. Examples of vector-borne diseases include Dengue fever, West Nile Virus, Lyme disease, and malaria.
- Video recording of this lecture in English language: https://youtu.be/kqbnxVAZs-0
- Video recording of this lecture in Arabic language: https://youtu.be/SINlygW1Mpc
- Link to download the book free: https://nephrotube.blogspot.com/p/nephrotube-nephrology-books.html
- Link to NephroTube website: www.NephroTube.com
- Link to NephroTube social media accounts: https://nephrotube.blogspot.com/p/join-nephrotube-on-social-media.html
1. Factsheet
Taxation implications
for company paid
healthcare
HEALTH C A S H P
LANS NCE
LT H IN SU RA
HEA
2. How Simplyhealth’s products are taxed
The following taxes affect companies who buy healthcare cover for their
employees (rates quoted are correct as at April 2012):
Insurance Premium Tax (IPT)
IPT is included in insurance contracts and is charged at 6% of the net premium;
IPT cannot be reclaimed.
National Insurance Contributions (NIC)
Employers are charged Class 1A NIC at 13.8% on the full value of taxable
benefits, or Benefits in Kind (BIK), provided to their employees. Class 1A NIC will
not usually be charged where employees’ earnings, including BIK are less than
£8,500 per annum.
Income Tax
Employees receiving company paid healthcare cover will pay tax on the BIK
value, which is the total cost to the employer less any amounts repaid by
the employee. Tax is charged at the employee’s highest marginal tax rate
(i.e. 20%, 40% or 50%1), which is determined by total earnings including benefits.
Corporation Tax (CT)
Companies pay Corporation Tax on their profits at a main rate of 24% (small
profits rate 20%, April 2012 – March 2013). The costs of providing employee
benefits are allowed as deductions from profit for CT purposes, and so reduce
the amount of CT payable.
Value Added Tax (VAT)
VAT is charged at 20% on non-insurance Administration Services; many
companies are able to reclaim the VAT they pay through their VAT return.
1
45% from 6 April 2013
3. Different taxes may apply depending on the type of healthcare cover:
Simplyhealth Private Medical Health Cash Plan
Healthcare Plan Option Insurance
A flexible way A low cost health benefit
for companies with that helps employees with
5 to 5,000 employees, the cost of their everyday
to give employees access healthcare
to the best medical advice
and treatment
Taxes:
Valued Added Tax (VAT) Does not apply Does not apply
Insurance Premium Tax Included in the premium Included in the premium
at 6% at 6%
National Insurance Applies to the total BIK value Applies to the total BIK value
Contributions (NIC) paid for by the employer, at paid for by the employer, at
13.8% 13.8%
Income Tax Applies to the BIK value, Applies to the BIK value,
at the employee’s highest at the employee’s highest
marginal rate marginal rate
Corporation Tax (CT) Applies to Total Taxable Applies to Total Taxable
Profits as reduced by BIK Profits as reduced by BIK
and NIC paid by company at and NIC paid by company at
company’s relevant rate company’s relevant rate
Benefit in Kind (BIK) Premium paid by employer Premium paid by employer
calculated as: less amounts paid for by less amounts paid for by
employee employee
Taxation examples
Please consider the following as illustrations of the overall cost to a company of
providing their employees with an insured healthcare benefit as a staff benefit,
including the potential saving in corporation tax after deducting from profit as a
business expense. All tax rates are the normal main rates as at April 2012. The
Government may announce a change in these rates.
Private Medical Insurance (PMI)
Mr Jones is a manager who earns £45,000 a year and pays tax at 40%. He is
provided with a company funded private medical insurance scheme that costs
his employer £1,060 a year inclusive of IPT. The information below shows the
taxation cost and benefit effects for both Mr Jones and his employer.
Amount due Calculated as
Cost to Mr Jones
Income Tax (annual amount) £424.00 40% of cost to employer (BIK value)
Income Tax – monthly amount £35.33
Total cost of providing PMI
Net premium £1,000.00
Insurance Premium Tax £60.00 6% of net premium
Total premium due to insurer £1,060.00
(BIK value)
Cost of Class 1A NIC £146.28 13.8% of cost to employer
Cost to employer before CT saving £1,206.28
Less: Corporation Tax saved (£289.51) 24% of gross premium plus
NIC paid
Net cost to employer £916.77
4. Health Cash Plan
Smith & Sons provide all of their employees with a company paid health cash
plan costing £2 per employee per week, or £104 per year. The information below
shows the usual taxation cost and benefit effects for both the employer and its
employees.
Total cost of providing the Amount due Calculated as
Health Cash Plan
Net premium £98.11
Insurance Premium Tax £5.89 6% of net premium
Total premium due to insurer £104
(Benefit in Kind value)
Cost of Class 1A NIC £14.35 13.8% of cost to employer
Cost to employer before CT saving £118.35
Less: Corporation Tax saved (£28.40) 24% of gross premium plus
NIC paid
Net cost to employer £89.95
(per employee)
Cost to basic rate taxpayer
Income Tax (annual amount) £20.80 20% of BIK value
Income Tax - monthly amount £1.73
Cost to higher rate taxpayer
Income Tax (annual amount) £41.60 40% of BIK value
Income Tax – monthly amount £3.47
Cost to additional rate taxpayer
Income Tax (annual amount) £52.00 50% of BIK value1
Income Tax – monthly amount £4.33
1
45% from 6 April 2013
This communication is directed at commercial customers only and is not aimed
at consumers. Please note that these examples are for illustrative purposes only.
They are not intended to constitute tax advice, but are a representation of current
legal provisions. For specific advice on how this affects your company, you
should speak to your Tax Advisor, or your local HM Revenue and Customs office.
Further information on tax rates and how this affects you can be found at:
www.hmrc.gov.uk
Simplyhealth is a trading name of Simplyhealth Access, registered and incorporated in England
1203110
and Wales, No.183035. Registered office: Hambleden House, Waterloo Court, Andover, Hampshire
SP10 1LQ. Authorised and regulated by the Financial Services Authority. Your calls may be recorded
and monitored for training and quality assurance purposes.