As a business owner, staying on top of tax regulations is crucial to keeping your company compliant and financially efficient. With HMRC’s upcoming mandate to make reporting of benefits in kind (BIK) through payroll mandatory from April 2026, now is the time to prepare.

At Bidwell Accountancy, we pride ourselves on delivering exceptional service, ensuring that our clients are always ahead of the curve when it comes to changes in tax law. Let’s break down what this change means and why you should start planning with us today.

What Are Benefits in Kind, and What’s Changing?

Benefits in kind are non-cash perks or benefits that your employees receive as part of their compensation, such as company cars, private health insurance, or accommodation. Currently, many businesses report these benefits through annual P11D forms. But from April 2026, HMRC will require all businesses to process BIK through payroll, streamlining the way taxes are calculated and collected.

This shift aims to improve tax compliance and reduce the administrative burden on both businesses and HMRC. However, businesses need to take proactive steps to be ready before the deadline.

Why This Change Is Important for Your Business

Moving to this new payroll system can be complex, especially if your business offers a variety of benefits to employees. You will need to:

• Register with HMRC: Every company must register for the new BIK payroll system well before April 2026.
• Understand Your Reporting Obligations: Reporting benefits through payroll changes how taxes are calculated. It ensures taxes are deducted in real time, so your employees pay the correct amount throughout the year.
• Update Your Payroll System: Many businesses will need to upgrade their payroll software to handle BIK reporting effectively, or risk falling behind in compliance.

These are not changes to be left until the last minute. Early planning is essential to avoid potential penalties and disruptions to your payroll process.

Why Choose Bidwell Accountancy to Guide You Through These Changes?

At Bidwell Accountancy, we expect nothing but the highest standards from our team, and we offer our clients the same level of excellence. With years of experience in tax planning, payroll management, and regulatory compliance, we ensure that your business is always fully prepared for upcoming changes in tax law.

By partnering with us, you’ll benefit from:

• Expert Guidance: We will help you understand the full scope of the changes and how they affect your specific business.
• Seamless Implementation: We’ll assist with registering your business for the new payroll system and ensure your software is fully compliant.
• Ongoing Support: Tax regulations don’t stand still, and neither do we. We provide ongoing support to ensure your business stays compliant and your employees’ taxes are handled accurately and efficiently.

Don’t Wait—Start Preparing Now!

April 2026 might seem far off, but the time to act is now. By planning ahead, you can make sure your business is fully compliant with HMRC’s new BIK payroll regulations well before the deadline, avoiding unnecessary stress and potential fines.

At Bidwell Accountancy, we’re committed to helping you navigate these changes with ease and efficiency. Contact us today to schedule a consultation and let us guide you through the transition.

Get in touch with Bidwell Accountancy

Don’t wait until the last minute—reach out to our expert team today to ensure you’re fully prepared for the upcoming changes. We’re ready to assist you in making your payroll processes smoother and more compliant, ensuring peace of mind as you focus on growing your business.

With our guidance, you can stay ahead of the game and ensure your business is always in top financial health. Let us be your trusted partner for all your accounting needs!