Prosper Squared - company client pays them £3k a month, that's a BIK right? Unless all the employees benefit from the points, right?
Company client uses an American Express card to pay for as much as they can, due to the points/Air miles rewards from AMEX. That's a BIK, isnt it?
Related resources
Replies (11)
Please login or register to join the discussion.
I’d suggest that you discuss this with your accountant who has access to the full details.
If you want to read about the subject, this is the HMRC manual:
https://www.gov.uk/hmrc-internal-manuals/employment-income-manual/eim00513
I am the accountant.
In which case, could you perhaps share the technical analysis you applied in reaching your conclusions “that's a BIK right?” and “That's a BIK, isnt it?”. The site works so much better when questions offer some technical insight to promote discussion.
Talk us through your "unless". Which exclusion/exemption/relief/whatever have you in mind?
https://www.accountingweb.co.uk/any-answers/anyone-recommended-propser2
prior question
https://forums.contractoruk.com/accounting-legal/144704-prosper-rewards....
What points?
It is a prepaid credit card.
IoM and Gibraltar. If genuine, why not operate properly on the mainland?
I don't know about Prosper Squared, but HMRC have named B2B Tradecard Ltd on their list of tax avoidance schemes: https://www.gov.uk/government/publications/named-tax-avoidance-schemes-p...
If this arrangement is similar you should be aware of this.
