205 Cost of the benefit: asset made available without transfer
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

205  Cost of the benefit: asset made available without transfer

(1)     The cost of an employment-related benefit (“the taxable benefit”) is determined in accordance with this section if—

[(a)     the benefit consists in an asset being made available for private use, and]

(b)     there is no transfer of the property in the asset.

[(1A)     In this section and section 205A, “private use” means private use by the employee or a member of the employee's family or household.

(1B)     For the purposes of subsection (1) and sections 205A and 205B, an asset made available in a tax year for use by the employee or a member of the employee's family or household is to be treated as made available throughout the year for private use unless—

(a)     at all times in the year when it is available for use by the employee or a member of

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