Section 103 | Method of calculating cash equivalent ^F1

(1)The cash equivalent is calculated—

(a)under section 105 if the cost of providing the living accommodation does not exceed £75,000; and

(b)under section 106 if the cost of providing the living accommodation exceeds £75,000.

(2)Section 104 (general rule) sets out how to calculate the cost of providing living accommodation for the purpose of determining whether or not it exceeds £75,000.

(3)In this Chapter—