Part 3

Employment income: earnings and benefits etc. treated as earnings
Chapter 5

Taxable benefits: living accommodation

Calculation of cash equivalent

Method of calculating cash equivalent
103
1
The cash equivalent is calculated—
a
under section 105 if the cost of providing the living accommodation does not exceed £75,000; and
b
under section 106 if the cost of providing the living accommodation exceeds £75,000.
2
Section 104 (general rule) sets out how to calculate the cost of providing living accommodation for the purpose of determining whether or not it exceeds £75,000.
3
In this Chapter—
- “annual value”,
- “person involved in providing accommodation”, and
- “the property”,
- have the meaning given by sections 110 to 113, and “the taxable period” has the meaning given by section 102(1) .
Word in s. 103(3) substituted (with effect in accordance with Sch. 2 para. 62 of the amending Act) by Finance Act 2017 (c. 10), Sch. 2 para. 14