Part 3Employment income: earnings and benefits etc. treated as earnings
Chapter 10Taxable benefits: residual liability to charge
Cash equivalent of benefit treated as earnings
203Cash equivalent of benefit treated as earnings
1
The cash equivalent of an employment-related benefit is to be treated as earnings from the employment for the tax year in which it is provided.
2
The cash equivalent of an employment-related benefit is the cost of the benefit less any part of that cost made good by the employee to the persons providing the benefit.
3
The cost of an employment-related benefit is determined in accordance with section 204 unless—
a
section 205 provides that the cost is to be determined in accordance with that section, or
b
section 206 provides that the cost is to be determined in accordance with that section.