a). Arif was provided a free accommodation on 6 April 2022. Company bought the accommodation in...

 

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a). Arif was provided a free accommodation on 6 April 2022. Company bought the accommodation in 2019 at the cost of £110,000 and accommodation was previously occupied by another employee of the company. The market value of the accommodation in April 2022 was £120,000. Annual value or ratable value of the accommodation is £6,000. Arif contributes £500 annually for the provision of accommodation. b). On 6 April 2022, company provided Amna a new petrol car that has CO2 emissions of 103 g/km. Car had list price of £30,000. Amna does not contribute any amount towards the purchase or use of car. Required: Assess the amount of taxable benefit in each case for the tax year 2022/23. a) b) a). Arif was provided a free accommodation on 6 April 2022. Company bought the accommodation in 2019 at the cost of £110,000 and accommodation was previously occupied by another employee of the company. The market value of the accommodation in April 2022 was £120,000. Annual value or ratable value of the accommodation is £6,000. Arif contributes £500 annually for the provision of accommodation. b). On 6 April 2022, company provided Amna a new petrol car that has CO2 emissions of 103 g/km. Car had list price of £30,000. Amna does not contribute any amount towards the purchase or use of car. Required: Assess the amount of taxable benefit in each case for the tax year 2022/23. a) b)

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a For Arifs accommodation provided by the company 1 The taxable benefit for accommo... View the full answer