- This topic has 1 reply, 2 voices, and was last updated 5 years ago by
.
- Posts
Hello,
I am slightly confused as to why some taxable benefits are taxed at 20 percent such as use of a computer, but other benefits such as use of accommodation are taxed at 2.5 percent?
Thanks,
Alex@xanpech Acca taxation is a rule based exam. Just stick with the rules instead of asking why do you don’t get confused.
Use of asset is 20%
Living accommodation if furnished the additional tax benefit is 20% on the furnishing cost.
Beneficial loan are usually at the rate of 2.5% per annum
The taxable benefit on the cost of running Job related living accommodation if paid by the employer is 10% on other employment income (heating water and other running expenses are not included in the calculation)
COUNCIL TAX is exempt for job related accommodation but are taxable in employee living accommodation that are not job related.
I hope I have helped a bit.
- You must be logged in to reply to this topic.