The following Employment Tax guidance note Produced 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 whether the accommodation falls within an exemption from tax or not.
If the living accommodation is taxable (ie not exempt) then the taxable amount is determined based on the annual value of the furniture. This is the amount to be included in the reporting requirements outlined below.
If the living accommodation is exempt then the amount is determined differently. The exemptions applying to the provision of living accommodation are discussed in
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