Kim lives in a house provided by her employer. The house cost her employer 246,500 in 2019
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Kim lives in a house provided by her employer. The house cost her employer £246,500 in 2019 and a further £28,500 was spent on improvements in 2020. The house has a gross rateable value of £3,700 and it has been agreed with HMRC that there is 12% business use. Kim pays rent of £400 per month to her employer for her private use of the house. Compute the taxable benefit in 2021-22 (the official rate of interest is 2.25% p.a.).
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