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Hello,
E is provided with a flat by her employer. The employer purchased the flat in 2016 for £ 85,000. E moved into the flat on 1 Apr 2018 when the market value was £120,000. The employer pays Council Tax of £120 per month. E contributes £50 for use of the flat. The annual value is £50.
What is the taxable benefit?
-The calculation is as follows:
Annual Value(500) + additional charge(250)- employee contribution+Council tax1. Could you explain why council tax has been added?
Thanks
It is another personal cost – like a gas bill or electricity bill – that has been paid for by the employer – it is therefore an assessable benefit
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