| Benefits Code I and Exemptions and Exclusions |
15 |
they are charged to income tax on an emolument equal to the expense involved; the costs of providing the token and of any interest charges are ignored.53 |
Relief is given when the vouchers or credit tokens are used to meet proper employment expenses or where the employee makes good the cost involved.54 In addition part 4 chapter 6 provides 14 exemptions for non-cash vouchers and six for credit tokens,55 and then provides further exemptions for incidental overnight expenses, certain benefits from cars, vans and lorries and also small gifts of vouchers and tokens from third parties.56 Gifts are small so long as they do not exceed £150 per employee each year.57 For the practice where incentive award schemes are provided by way of voucher, see Statement of Practice SP 6/85. |
15A.4 Benefits Code III Living Accommodation |
15A.4.1 Basic Rule |
Where living accommodation is provided for X by reason of X’s employment (or for X’s family or household),58 X is chargeable under ITEPA part 3 chapter 5 with section 102 as the charging section on the annual value of the benefit. Therefore, if X, a non-domiciled person, owns her house |