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Employers spending more than ever on staff benefits

Provisional figures for the tax year 2016-17 demonstrate that employers are spending more on staff benefits than previous years, with a £200 million increase since tax year 2015-16. The most pobular benefits include:

  • Private medical insurance
  • Private dental insurance
  • Company car
  • Fuel allowance

In light of this, a report from the HMRC has revealed that the actual number of individuals receiving such benefits is decreasing.

It has also been suggested that the changes to salary sacrifice schemes since April 2017 could lead to benefits of this kind being considered uneconomical.

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