Section 206(3) ITEPA 2003

Where employment related benefits that are taxable as general benefits under Chapter 10 of Part 3 of ITEPA are provided to employees under an optional remuneration agreement, the normal method of working out the cash equivalent for those benefits does not apply. The relevant amount to treat as earnings from the employment for that tax year is the greater of:

•the cost of the benefit, and

•the amount foregone with respect to the benefit

This includes situations where an asset is transferred to an employee after having been provided for the employee's use as an employment-related benefit.

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.

Talk to us on live chat
Call an Expert: 0800 231 5199