Income Tax (Earnings and Pensions) Act 2003 (c. 1)

Part 3 Employment income: earnings and benefits etc. treated as earnings

Chapter 10 Taxable benefits: residual liability to charge

Determination of the cost of the benefit

204 Cost of the benefit: basic rule

The cost of an employment-related benefit is the expense incurred in or in connection with provision of the benefit (including a proper proportion of any expense relating partly to provision of the benefit and partly to other matters).