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Benefits-in-Kind Reporting Changes from April 2026
Manage episode 444092986 series 3603591
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From April 2026, new regulations will mandate the inclusion of benefits-in-kind (BIK) in payroll, replacing the annual P11D forms. This change aims to simplify income tax reporting and aligns with HMRC's Making Tax Digital initiative. However, it necessitates adjustments to payroll systems and processes. While simplifying annual reporting, businesses must update systems and train staff to ensure accurate and timely reporting of BIK data.
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