If you’re running a business or you’re a director of your own limited company, you’ve probably heard the term “Benefit in Kind” (or BIK). In simple terms, it means any perk or benefit you receive from your company that isn’t part of your wages - but still has personal value to you. Simple enough, right? But here’s where it gets tricky: Some benefits are tax-free. Others come with tax and National Insurance liabilities, for both you and the business.