§ Mr. Skinnerasked the Chancellor of the Exchequer if he will now consider increasing tax payable on the following fringe benefits: private health insurance, payment of public school fees, free holidays, low interest loans and company flats.
§ Mr. Peter ReesThese benefits are already taxable in full—subject to a de minimis limit for low interest loans—in the hands of directors and higher-paid employees, and, in the case of private medical insurance, company flats and—if provided by means of vouchers—free holidays, lower-paid employees as well.
473WAs my right hon and learned Friend announced in his Budget Statement, the Inland Revenue is consulting employers and others about the problems involved in making fringe benefits as a whole taxable on all employees, whether higher paid or not.