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Store card membership provided to employees

Store card membership provided to employees

If store cards such as Marco/Costco are provided to employees then i imagine this is a taxable benefit recordable on the P11D.

Can anyone point me to more information on HMRC manuals or confirm if i am incorrect. 


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By law man
29th Jun 2011 16:44

Cheap interest rate loans

I assume the store card is not on public terms e.g. you can buy our goods on credit at APR 40%.

If the employee pays a lower rate e.g. 10%, then I guess the "benefit in kind" rules for employers may apply. I have not looked at these recently.

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29th Jun 2011 17:55

Costco & Makro

Costco and Makro cards are merely proof of membership enabling you to get into the store.  When you are in there, you pay cash or by debit card (not even credit card in Costco, I think) for the goods you buy.  There is no BIK other than access to the store, which would presumably be valued at the cost of the annual subscription divided by the number of cards issued to the employer.

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