Company car still favourite perk

The company car remains Britain's number one perk, ahead of the staff canteen and help with moving house, it was disclosed yesterday.

Despite increased taxation of some perks, the value of benefits in kind has soared by 260 per cent in the past 10 years, said the independent financial adviser group, IFA Promotion.

Top perks were worth about pounds 16bn in 1994, which was the equivalent of 6 per cent of the nation's total wage bill.

In 1994, it said, almost 2 million people were driving company cars, a benefit in kind worth more than pounds 5bn. "Employers are offering a range of benefits to attract and retain good quality staff," said IFA Promotion's chief executive officer, Robert Browne-Clayton.

The company pointed out that tied housing, the fourth most popular perk, was available to people as diverse as the Prime Minister, clergy, farmers, the armed forces and nannies.

TOP TEN PERKS

1 Cars pounds 5.1bn

2 Canteens pounds 3.6bn

3 Relocation pounds 2.2bn

4 Tied housing pounds 1.1bn

5 Expenses pounds 750m

6 Travel pounds 350m

7 Season tickets pounds 340m

8 Phones pounds 300m

9 Loans pounds 210m

10 Accommodation pounds 165m