Section 104 | General rule for calculating cost of providing accommodation

where—

A is any expenditure incurred in acquiring the estate or interest in the property held by a person involved in providing the accommodation,

I is any expenditure incurred on improvements to the property which has been incurred before the tax year in question by a person involved in providing the accommodation, and

P is so much of any payment or payments made by the employee to a person involved in providing the accommodation as represents—

(a) reimbursement of A or I, or

(b) consideration for the grant to the employee of a tenancy or sub-tenancy of the property.