Use/gifts of assets and admin of benefits
You'll learn how to calculate taxable benefits when employees use employer assets or receive gifts of those assets, and understand the key administrative rules for reporting benefits to HMRC.
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In this lesson
- 0:00 Use of employer assets and gifts
- 1:20 Calculating taxable benefit from use
- 2:00 Living accommodation and separate rules
- 2:54 Charlie's accommodation benefit worked example
- 4:00 Job-related accommodation exemptions
- 5:05 Reporting benefits to HMRC
- 6:07 PAYE settlement agreements explained
About this lesson
This video covers the specific valuation methods for asset use (20% of open market value) and asset gifts (market value less employee contributions), plus the special rules for living accommodation and how benefits are reported through P11d forms, payrolling, and PAYE Settlement Agreements. You'll see a worked example calculating the total taxable benefit for an employee provided with rented accommodation and furnished items, then explore when job-related accommodation is exempt and how employers can streamline benefit administration. This is essential knowledge for the Taxation module, helping you accurately identify and quantify employment benefits in exam scenarios.
Duration: 7m
Transcript
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