Will I have to pay 40% Tax?

Not sure what you mean by "get it back". You employer should be making the correct deductions of tax already. They will use your tax code and your salary history during the course of the tax year to compute this.

Rough working: £41k less 15% leaves £34850. Less personal allowance adjusted per tax code od £4399 leaves taxable income of £30451, which is almost £1000 below the higher rate threshold. Where does the company healthcare come in? Is that included in the £41k or extra? If the latter, and it's worth more then £1000, then you would start to pay at 40%.

But relax, it's no big deal. You only pay 40% on that part of your income which lies above the threshold. You won't suddenly have to pay an additional 18% of the first £31400. Saints, preserve us!

"Ronald Raygun" wrote

Presumably, it is paid for by the employer (so not in the 41K) & hence taxed as BIK which is why the tax code is below the standard 474L?

It sounds like you won't go into 40% tax anyway, but even if you do, don't worry because PAYE will take care of it all, wrt earnings & deductions via your payslip.

The only thing you do need to watch out for if you do enter the 40% tax bracket, is other income (like bank interest, dividends etc). You'll have to pay extra tax on these.

On the other hand, if you make any tax deductable payments (eg into a free standing AVC, or Gift Aid to charities), you'll be able to get some tax back.

Sounds plausible, but presumably on the basis of information from the employer's PAYE returns, so she will be paying tax (via the reduced tax code) this year on last year's BIK, and next year on this year's.