The following Employment Tax guidance note by Tolley in association with Philip Rutherford provides comprehensive and up to date tax information covering:
The provision of furniture by an employer to an employee is usually linked to the provision of living accommodation to the employee.
If the furniture provided to the employee remains the property of the employer, the value for tax purposes is based on the annual value of the furniture. In order to calculate the annual value you should refer to the Assets ― made available to an employee guidance note.
Broadly speaking, the annual value is 20% of the market value of the furniture when it is first made available to the employee.
If living accommodation is provided by the employer then the value of the taxable benefit of the use of any furniture provided depends on wheth
**Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason.
Access this article and thousands of others like it free for 7 days with a trial of TolleyGuidance.
Read full article
Already a subscriber? Login
To view our latest tax guidance content, sign in to Tolley Guidance or register for a free trial.