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Employer Medical Insurance for Student Finance/NHS Bursary purposes watch

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    I have medical insurance with my employer and was wondering if this benefit counts as income for Student Finance/NHS Bursary purposes even though it is not incoming cash.
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    (Original post by stu3330)
    I have medical insurance with my employer and was wondering if this benefit counts as income for Student Finance/NHS Bursary purposes even though it is not incoming cash.
    See page 88 of
    http://www.practitioners.slc.co.uk/m...ment_14-15.pdf

    The wording "income from taxable benefits in kind" is poor, but medical insurance is usually a taxable benefit in kind, so it looks as if it is included for Student Finance purposes.

    The 2011 regulations at para 5 schedule 8
    http://www.legislation.gov.uk/uksi/2...chedule/4/made
    say that the "residual income" is taxable income, with no deduction for personal allowance etc, but with deductions for pension contributions.
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    (Original post by Holmstock)
    See page 88 of
    http://www.practitioners.slc.co.uk/m...ment_14-15.pdf

    The wording "income from taxable benefits in kind" is poor, but medical insurance is usually a taxable benefit in kind, so it looks as if it is included for Student Finance purposes.

    The 2011 regulations at para 5 schedule 8
    http://www.legislation.gov.uk/uksi/2...chedule/4/made
    say that the "residual income" is taxable income, with no deduction for personal allowance etc, but with deductions for pension contributions.
    Thanks for this. I suspected it might be the case though I don't understand why as the benefit is in kind and not actual cash per se.
 
 
 
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