105 Cash equivalent: cost of accommodation not over £75,000
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

Accommodation costing £75,000 or less

105  Cash equivalent: cost of accommodation not over £75,000

(1)     The cash equivalent [or modified cash equivalent] is to be calculated under this section if the cost of providing the living accommodation does not exceed £75,000.

(2)     The cash equivalent is the difference between—

(a)     the rental value of the accommodation for the taxable period, and

(b)     any sum made good[, on or before 6 July following the tax year which contains the taxable period,]

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