On 6 April 2018, an employer purchases a music system for 800 and immediately lends the system
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On 6 April 2018, an employer purchases a music system for £800 and immediately lends the system to an employee for his private use. The system remains in the employee's possession until 6 October 2020 when the employee buys it from his employer for £100, its market value on that day being £240. Calculate the taxable benefit in kind for tax years 2018-19 to 2020-21 inclusive.
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