106 Cash equivalent: cost of accommodation over £75,000
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

Accommodation costing more than £75,000

106  Cash equivalent: cost of accommodation over £75,000

(1)     The cash equivalent [or modified cash equivalent] is calculated under this section if the cost of providing the living accommodation exceeds £75,000.

(2)     To calculate the cash equivalent—

Step 1

Calculate the amount that would be the cash equivalent if section 105 applied (cash equivalent: cost of accommodation not over £75,000).

Step 2

Calculate the following amount (“the additional yearly rent”)—

ORI × (C ­ £75,000)

ɳ—

ORI

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