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Jean96
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Jo is provided with accommodation by her employer, which the employer purchased 35 years ago at a cost of £72000. the property has an annual value of £2600, and had a market value of £245000 when first made available to Jo 8 years ago.Jo pays £250 per month to her employer to live in the property
The accomodation does not qualify as job relatedwhat is the assessable benefit for Jo in the tax year 2015/16
why does it not include the additional benefit of expensive accomadation
he didnt use the market value of house and instead uses the costand his only benefit is zero £250*12-£2600
Tax Tutor
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No additional expensive accommodation benefit as the property cost less than £75,000
Jean96
- Topics: 77
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but it is more than 6 years since it was first made available so it must use the market value and not cost of property?
Jean96
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so it is an expensive house?
Tax Tutor
- Topics: 2
- Replies: 3965
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No – if the cost is less than £75,000 then it does not matter how long the company has owned it nor what was its market value when the employee moved in – the 6 year rule is irrelevant in these circumstances
Jean96
Tax Tutor
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