Commentary

(g) Assets placed at the disposal of the employee

Division BII Taxation of Employment Income
| Commentary

(g) Assets placed at the disposal of the employee

| Commentary

(g)     Assets placed at the disposal of the employee

An asset may be placed at the disposal of the employee without ownership of the asset being transferred to him. In such a case there are special rules for calculating the cash equivalent of the benefit (ITEPA 2003 s 205). Essentially, tax is charged on the annual value of the use of the asset and the annual amount (if anything) paid by the employer by way of hire charge for the asset, whichever is greater (s 205(2)). The annual value is, in the case of land, its

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