The following Employment Tax guidance note Produced by Tolley in association with Philip Rutherford provides comprehensive and up to date tax information covering:
The payment of an employee’s heating and lighting by the employer is most usually linked to the provision of living accommodation to the employee. The tax treatment of the provision of gas and electricity are covered by this guidance note.
Payments in respect of gas and electricity made by an employer are always taxable. However, the answers to how and why the benefit is provided to the employee determine both the amount of the benefit and how it should be reported.
For consideration of other utility charges, such as water charges, please see the Utilities provided in accommodation guidance note.
If living accommodation is provided by the employer then the value of the taxable benefit depends on whether the acco
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‘Hold-over’ relief allows for the deferral of a gain that would otherwise arise in relation to a disposal. No capital gains tax (CGT) is due in respect of the disposal, but the base cost of the asset for the transferee for the purpose of a future disposal is reduced by an amount equal to the gain
IntroductionUK tax must be withheld on UK payments including:•interest•royalties•rental incomeWithholding tax may be reduced under double tax treaties (DTT) or European directives, both of which may be subject to making a formal claim.This guidance note outlines the rules for UK withholding tax, and
Expenditure of a capital nature is not allowed as a deduction when calculating trading profits. Expenditure of a revenue nature is allowable, provided there is no specific statutory rule prohibiting a deduction and the expenditure also satisfies the wholly and exclusively test. See the Wholly and
The rent-a-room scheme was introduced in the early 1990s to encourage homeowners to take in lodgers.Fundamentally, the rent-a-room scheme is a relief which means that the rent received by an individual from a lodger (up to a prescribed limit) can be exempt from income tax. If the gross rents are
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