Why do we include benefits in kind?

Get support with the CQC Forums CQC Interview Questions Why do we include benefits in kind?

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  • #493962
    accountingbyte
    Participant

      Benefits in kind (BIKs) are the non-cash rewards that companies, including cars, health insurance, and housing, use to attract and retain employees. The offer a boost to overall remuneration but don’t increase direct salary. BIKs are taxable and must be declared to tax authorities although they’re valuable. Their total taxable income may be calculated by employers, by converting each benefit to cash and that may or may not change; it’s up to those employers to determine what basis of calculation to use. Although there are the tax implications, BIKs make for a popular form of reward for businesses to give staff.

      #494183
      adamjackir
      Participant

        Including benefits in kind is a smart move because it helps attract and retain talented employees by offering perks that go beyond just a salary. These extras—like company cars, health insurance, or even a v34 colour corrector for those in media or design roles—can make a big difference in job satisfaction. When people feel valued with practical benefits, it boosts morale and loyalty. It also creates a more appealing work environment where employees feel supported. Using something like a v34 colour corrector as a benefit in kind shows attention to professional needs. That kind of thoughtfulness can really set a company apart. Plus, it’s often more tax-efficient too!

        #1176172
        Daniel511
        Participant

          Hey, dit klinkt als een goed punt over hoe kleine voordelen echt het verschil kunnen maken op het werk. Zelf zocht ik laatst wat ontspanning en stuitte toevallig op blazing wildz. Ik probeerde het spel Roulette uit en vond het verrassend leuk; elke draai hield me echt geboeid en gaf een welkome afleiding. Voor spelers uit de Nederlanden zijn er bovendien speciale bonussen, wat het nog aantrekkelijker maakt. Het werd een leuke manier om even te ontspannen en zelfs een paar kleine overwinningen te vieren.

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