Part 2Employment income: charge to tax
Chapter 8Application of provisions to workers under arrangements made by intermediaries
The deemed employment payment
55Application of rules relating to earnings from employment
1
The following provisions apply in relation to the calculation of the deemed employment payment.
2
A “payment or benefit” means anything that, if received by an employee for performing the duties of an employment, would be earnings from the employment.
3
The amount of a payment or benefit is taken to be—
a
in the case of a payment or cash benefit, the amount received, and
b
in the case of a non-cash benefit, the cash equivalent of the benefit.
4
The cash equivalent of a non-cash benefit is taken to be—
a
the amount that would be earnings if the benefit were earnings from an employment, or
b
in the case of living accommodation, whichever is the greater of that amount and the cash equivalent determined in accordance with section 398(2).
5
A payment or benefit is treated as received—
a
in the case of a payment or cash benefit, when payment is made of or on account of the payment or benefit;
b
in the case of a non-cash benefit that is calculated by reference to a period within the tax year, at the end of that period;
c
in the case of a non-cash benefit that is not so calculated, when it would have been treated as received for the purposes of Chapter 4 or 5 of this Part (see section 19 or 32) if—
i
the worker had been an employee, and
ii
the benefit had been provided by reason of the employment.