Hi all,
For those that offer fertility/family creation benefits that include a monetary stipend to services such as IVF, egg freezing etc. how are you currently processing these benefits from a tax perspective?
We're in discussions with the likes of Carrot and Maven and they've all advised it's a taxable benefit. I always thought it was a bit of a grey area so I've asked our payroll advisors but wanted to see if anyone here had any insight too.
Hi Taz.
We are looking at this type of benefit structured as a cash reimbursement plan. The employee / partner would get a lifetime "pot" to use on approved treatments etc. The employee would pay for it up front, then essentially expense it back.
This would be paid through payroll and so be taxable (like a cash bonus) for employee and employer (NI).
Hope that helps, happy to connect direct if you like.
Phil