Tax Calculators & Tools

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Topic: Income tax

Use of employer's asset benefit calculator
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Use of employer's asset benefit calculator

Use of employer’s asset benefit calculator

Where an asset belonging to a company is made available to an employee or director for their personal use, they are liable to a benefit in kind tax charge. Unless there are special rules for calculating it, e.g. in the case of a car, a basic “use of asset” charge arises.

How to use the calculator

The Use of Employer’s Asset Benefit Calculator works out the basic charge depending on whether the business owns or rents the asset. It can also compute the additional tax charges that can apply where an employer pays the running and maintenance costs of the asset and where it is made available to more than one employee during the same tax year.

 

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