Fresh calls for health insurance tax break

As part of its 2020 manifesto (announced last week), British Insurance Brokers Association (BIBA) is calling for the first £500 of health insurance benefit to be waived from the P11D. The industry body has argued that the costs associated with such benefits are creating barriers for smaller businesses, in particular micro-SMEs. It said employees with a lower income and facing taxable benefits are being put off, while the employer costs of P11D administration alongside national insurance tax of 13.8% outweigh the value of the health benefit which can be less than £500 a year. With m...