If your employer is running GymFlex as a salary sacrifice scheme, you will be liable to pay income tax on the value of your membership. However, your Gym Membership is not currently subject to National Insurance Contributions. Please speak to your Payroll or Benefits department for more details.
Can I cancel GymFlex?
Your GymFlex Membership is a non-cancellable 12 month membership. In certain circumstances, and in line with your chosen GymFlex Gym's own Terms and Conditions it may be possible to upgrade, suspend or terminate a membership.
Is gym membership salary sacrifice?
Salary sacrifice and benefits in kind At present, many benefits in kind like gym membership, mobile phones, laptops and removal expenses are available to employees tax-free, as part of a salary sacrifice scheme.19 Feb 2021
Is gym membership taxable?
Short Answer: The general rule is that any employer payment/reimbursement for gym, health club, spa, exercise equipment, or other similar expenses that are intended for general fitness and health is standard taxable income to employees. The best guide to §213(d) medical expenses is IRS Publication 502.30 Aug 2019
How does GymFlex work?
GymFlex is a salary sacrifice scheme, with the company paying for the annual gym membership and adjusting salaries accordingly. You may also run this as a net pay scheme if desired. The employee benefits from the discounted “paid up front annual corporate rate” plus any additional national insurance savings.
What is corporate gym membership?
What is corporate gym membership? This can be offered to staff by their employers on a paid-for or discounted basis, providing access to a gym, health club, leisure or sports centre, or even exercise classes, as part of a voluntary or flexible benefits package.30 Jan 2017
Is Subsidised gym membership a taxable benefit?
These benefits have a monetary value which unfortunately means, that they must be treated as taxable income and are then subject to PAYE, USC and PRSI which is deducted from your pay, by your employer.20 Feb 2019
What are taxable benefits?
A taxable benefit is a payment from an employer to an employee that primarily benefits the employee. The benefit can be in the form of cash or near cash or other types of payments. When an employee receives a taxable benefit, the employee's department is responsible to report this benefit to Payroll Services.
Is health club membership tax-deductible?
The short answer No unfortunately, health club memberships mostly tend to fall under general personal expenses, and cannot be deducted from your taxes.
What is corporate membership David Lloyd?
David Lloyd Leisure has launched a corporate gym membership called DL Flex. The scheme can be offered by employers to employees through a flexible benefits package, via a salary sacrifice arrangement, as a net pay gym loan deduction or as an employer-paid benefit.22 Nov 2013
Do companies pay for gym memberships?
As part of its fringe benefits package to attract qualified employees, employers may offer to pay for health club or gym memberships. Business owners can deduct the costs of membership fees paid to benefit their employees.
Can I put gym membership through my business?
So, is a gym membership tax deductible for a business? You can technically expense anything as long as you can prove that it's a business expense. But most of the time, gym membership is deemed a personal expense by HMRC.6 Oct 2021