RE: Tax on Loss of Licence
I am a CC rep for an airline, nosing around on other sites I saw this and have some info that might interest on this subject.
We negotiated a new lol policy a few months ago and, at the time, found out that it must be taxed as a benefit in kind.
We too tried everything possible to get away from paying this tax.
I have it in writing from the tax man that the company can settle the tax due for its employees, therefore leaving no tax liability for the individual.
Obviously this means the company paying a bit more for your cover. However, as we feel that for this to be a genuine part of ones employment package it should not cost an individual anything, we are campaigning for our company to do so.(currently unsuccessfully). We also suspect that the company may be able to offset the tax against other things and will not actually pay as much as the individuals anyway.
If any of you want any information then let me know via email or PN.
Regards