Tax implications 

What you need to know before joining

The Trust pays the membership fees for all staff who are enrolled. In common with many employee benefits, this is classed as a benefit in kind for tax purposes, and you will see a small adjustment to your tax code which will be listed as ‘private medical insurance’ on your annual P11D return.   The figure you see on your P11D is what we, the Trust, have paid to provide this benefit to you during the year. As this reduces your tax code by that amount, you then pay tax on this figure. To give you an idea of the impact,  for normal rate tax payers this will result in a cost to you in increased tax of approximately £1.20 a month. Please also remember that your tax code is adjusted at the end of a financial year so won't impact you until the year after you have received the benefit.

When you first join the Trust, you will complete the Trust induction. When you've completed your induction you will be offered the option to opt in to our Health cashplan when you complete the  'end of induction checklist'. 

If at any point during your time with Initio, you decide to change your preference, please contact your HR / Office Manager in the first instance and they will arrange this for you.