7 Taxable benefits: application of Chapters 5 to 7 of Part 3 of ITEPA 2003
Finance Act 2016 (2016 c 24) | Legislation

Employment Income: Taxable Benefits

7  Taxable benefits: application of Chapters 5 to 7 of Part 3 of ITEPA 2003

(1)     Part 3 of ITEPA 2003 (employment income: earnings and benefits etc treated as earnings) is amended as follows.

(2)     In section 97 (living accommodation to which Chapter 5 applies), after subsection (1) insert—

“(1A)     Where this Chapter applies to any living accommodation—

(a)     the living accommodation is a benefit for the purposes of this Chapter (and accordingly it is immaterial whether the terms on which it is provided to any of those persons constitute a fair bargain), and

(b)     sections 102 to 108 provide for the cash equivalent of the benefit of the living accommodation to be treated as earnings.”

(3)     In section 109 (priority of Chapter 5 over Chapter 1), after subsection (3) insert—

“(4)     In a case where the cash equivalent of the benefit of the living accommodation is nil—

(a)     subsections (2) and (3) do not apply, and

(b)

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