Reference Entry

benefits in kind

Jonathan Law

in A Dictionary of Business and Management

Fifth edition

Published in print January 2009 | ISBN: 9780199234899
Published online January 2009 | e-ISBN: 9780191726545
benefits in kind

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Benefits other than cash arising from employment. The UK tax legislation seeks to assess all earnings to tax, whether they be in the form of cash or in kind. The treatment of benefits depends on the level of total earnings, including the value of any benefits, and whether the employee is a director of a company. The general rule is to value benefits at their cash equivalent although some specific benefits (e.g. company cars) are subject to specific valuation rules. For employees earning less than £8500, the benefits are only assessable if they are living accommodation or if they are capable of being turned into cash, such as credit tokens. For all ...

Reference Entry.  213 words. 

Subjects: Business and Management

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