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I had an interesting topic we discussed at work regarding if we should do sublease accounting or not.
The company rents 100 parking spaces near the office from a third party. The employees might if they wish to rent one of those and pay 50% of the cost back to the company.
– You sign a contract with HR with the conditions and the fee
– You get a designated parking spot with a number, that nobody else can use during the time you pay for the parking space.The discussion topic is
Should the company account for 100 subleases for the employees or would this go under some benefit accounting under payroll?
Would be interesting to hear your input.
Sounds like a salary sacrifice arrangement https://www.gov.uk/expenses-and-benefits-parking-spaces
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