Employment income – Benefit in Kind

1) Use of the company house with an annual value of £9,750 and which cost her employer £250,000. Jenny makes no contribution to the cost of the house or to the running costs which totalled £2,300 in the tax year 2020-21. The company also furnished the house at a cost of £8,500. Jenny’s occupation of the house is not job related.

2) Petrol engine company car with a list price when new of £45,000 and which has an emission rating of 156g/km. The company pays all running costs including fuel for both personal and private journeys.

what will be the tax relief for 2020/21 tax year