I'm trying to complete my Self Assessment and it's fairly straightforward - I don't have any complicated tax affairs or multiple incomes. What's confusing me is the benefits section. I have private medical and dental insurance through my company. On my P11D it lists the cash equivalent value which is fine. On the P60 I see my taxable income. This all makes sense except that I believe my taxable income already has the insurance value added in as a BIK through payroll. Looking at my payslips I see a line entry for each benefit as a BIK. I can recalculate the taxable income only if I add on the BIK total. That's the value that ends up on the P60.
My concern is that my tax calculation is based on that P60 income value + the benefit from P11D - the tax free allowance. Now if the P60 value already includes the value from the P11D doesn't that mean I'm declaring the same benefit twice? If that was the case wouldn't the P11D reflect that value and list a cash equivalent value of 0?
As an additional question the total of the BIK on the payroll through the year is not exactly the same as the value on the P11D. Maybe I should declare the difference?