Omar lives in a company flat that cost his employer £105,000 in June 2015.The annual value of the flat is £2,500. The accommodation is not job- related. Calculate Omar taxable benefit for the tax year 2020/21 £750 £2,500 £3,250 £2,625

Omar lives in a company flat that cost his employer £105,000 in June 2015.The annual value of the flat is £2,500. The accommodation is not job- related. Calculate Omar taxable benefit for the tax year 2020/21 £750 £2,500 £3,250 £2,625

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter2: Income Tax Concepts

Section: Chapter Questions

Problem 41P: Chelsea, who is single, purchases land for investment purposes in 2014 at a cost of 22,000. In 2019,...

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Question

Omar lives in a company flat that cost his employer £105,000 in June 2015.The annual value of the flat is £2,500. The accommodation is not job-
related.
Calculate Omar taxable benefit for the tax year 2020/21
£750
£2,500
£3,250
£2,625

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