Description

Did you know that employee perks can have a major impact on payroll processing? From tax-free benefits to social insurance liabilities, understanding how goods and services provided to employees affect payroll is critical.

Whether you're managing payroll for a global workforce or navigating due diligence for new clients, mastering the intricacies of Benefits in Kind (BIK) ensures compliance and financial efficiency. This course breaks down complex payroll obligations, helping professionals navigate reporting, valuation, and taxation with confidence. In this practical and insightful session, we’ll explore key aspects of Benefits in Kind, including the proper valuation of benefits, payroll monitoring, and legal obligations. We’ll cover payroll compliance for capped benefit schemes, assess social insurance liabilities, and explain how pecuniary liabilities impact payroll processing.

Learning Objectives:-

• Identify tax-free benefits and their payroll implications.
• Analyze the value of benefits for payrolling purposes.
• Explain social insurance liabilities on employee benefits.
• Differentiate capped benefit schemes and their payroll impact.
• Discuss pecuniary liabilities and their effect on payroll processing.

Areas Covered in the Session:-

• Tax-Free Benefits Explained
• Payroll Reporting Requirements
• Valuation of Employee Perks
• Social Insurance Considerations
• Managing Pecuniary Liabilities

Join us to unravel the complexities of Benefits in Kind and elevate your payroll expertise.

Who Will Benefit?

• Payroll Professionals
• HR Managers
• Tax Specialists
• Compliance Officers
• Finance Managers
• Benefits Administrators.