Pub landlords and tax treatment of accomodation in limited company
julesparnell
Registered Posts: 2 New contributor 🐸
Hi all
Hopefully someone can help.
A client who are directors rent and reside in the flat above the pub. I have received confirmation from the brewery that is it not a requirement of the lease that they live there but someone has too.
As they are directors, is the rent for the flat, rates, heating etc classed as a Benefit in kind if the company pays on their behalf?
Hopefully someone can help.
A client who are directors rent and reside in the flat above the pub. I have received confirmation from the brewery that is it not a requirement of the lease that they live there but someone has too.
As they are directors, is the rent for the flat, rates, heating etc classed as a Benefit in kind if the company pays on their behalf?
1
Comments
-
@julesparnell In short, yes. You can find the guidance on HMRC website as follows:
https://www.gov.uk/guidance/taxable-benefits-and-facilities-480-chapter-4#particular-benefits-to-which-special-taxing-rules-apply
Paragraph 4.3 explicitly mentions accommodation including light, heat, rates and domestic or other services.2 -
Thank you Dave that is very helpful.0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 321 NEW! Qualifications 2022
- 164 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 87 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 92 Software
- 273 Tax
- 135 Bookkeeping
- 7.2K General accounting discussion
- 200 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership