SolvedEIM21230 | The benefits code: valuation of benefits: special rules for certain benefits
From HM Revenue & Customs · Employment Income Manual
Part 3 ITEPA 2003
The general rule in EIM21102 for valuing benefits does not apply to certain items. The legislation therefore contains special rules for them. The benefits for which there are special rules and the relevant legislation and instructions are shown in the following table (all references to ITEPA 2003).
| Benefit to which special rules apply | Relevant legislation | Relevant instructions |
|---|---|---|
| Asset placed at the disposal of director or employee (except for 2015/16 and earlier in an excluded employment) (except a motor car) | Section 205 | EIM21630 onwards |
| Asset transferred to a director or employee (except for 2015/16 and earlier in an excluded employment) at undervalue | Section 62 and Section 206 | EIM21640 onwards |
| Facilities such as heating, lighting, cleaning, repairs etc connected with job-related living accommodation | Section 315 | EIM21720 onwards |
| Income tax not deducted from directors’ earnings | Section 223 | EIM21790 onwards |
| Loans provided interest-free or at an interest rate less than the official rate | Part 3 Chapter 7 | EIM26101 onwards |
| Loans waived or written off | Section 188(2) and (3) | EIM21740 onwards |
| Motors cars available for private use | Part 3 Chapter 6 | EIM23000 onwards |
| Motor car fuel provided for private motoring in a provided car | Section 149 | EIM25500 onwards |
| Scholarships awarded to members of the family of a director or an employee (except for 2015/16 and earlier in an excluded employment) | Section 212 | EIM30000 onwards |
| Shares acquired at an undervalue by reason of the employment | Part 3 Chapter 8 | Share Schemes Manual |
| Vans available for private use | Section 154 | EIM22700 onwards |