Section 205 ITEPA 2003

Transitional legislation from 2017/18 to 2019/20

The rules for calculating the taxable value of an asset provided to an employee which is made available for private use changed with effect from 6 April 2017.

Prior to the 2017/18 tax year, the method of calculating the value of the benefit was based on the ratio of private miles to total miles. This was no longer possible under the new rules introduced by Finance Act 2017. These changes had a significant effect on employees of the emergency services who are allowed to make private use of emergency vehicles.

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.