personal tax - benefits in kind

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
I'm studying personal tax and am understanding it so far until I have discovered chapter 4 - employment income does anyone have any notes or ideas on how to understand this section

thanks

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:personal tax - benefits in kind

    Benefits in kind are included within employment income when calculating a tax liability. Illustration:

    Earnings from P60: £20,000
    Car benefit: £3,000
    Fuel benefit: £1,000
    Total earnings from employment (Sch. E) = £24,000

    This is how benefits affect employed earnings.

    Please note the above figures are for illustration purposes only - I have not used "tax" figures in the above - they are off the top of my head.


    Kind regards
    Steve

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:personal tax - benefits in kind

    Not sure which book you have but your best on is the osborne books

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