Mr DA Shirley.

Decision released 18 October 1995.

Income tax – Sch. E – Benefit in kind – Loan to employee for house purchase secured on property by a legal charge – Employer wished taxpayer to move to another part of the country – Loan of amount equal to the shortfall on sale of taxpayer’s house and purchase of another elsewhere – Loan was interest-free but repayment linked to increase in value of house – Whether a benefit in kind – The money constituted a loan within the meaning of the provisions for taxing benefits in kind – Appeal dismissed – Income and Corporation Taxes Act 1988, s. 160.

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