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Expenses and benefits for directors and employees - a tax guide: 480

This guidance sets out HMRC's approach to applying legislation on expenses payments and benefits received by directors and employees.

From:
HM Revenue & Customs
Published
30 December 2019

This tax guide explains the tax law relating to expenses payments and benefits received by:

  • directors
  • employees

It also explains the tax law relating to the valuation of non-cash benefits received by any taxpayer:

  • in connection with termination of employment
  • from an employer-financed retirement benefits scheme

For information on these non-cash benefits, read chapter 27 before you look at any other section of the tax guide.

This tax guide is based on the law in force at 6 April 2017 and certain subsequent changes that come into force from 6 April 2018. It has no binding force and does not affect your rights of appeal.

Certain specific aspects of the law affecting securities or share schemes apply from dates later than 6 April 2007. See the website address in chapter 23.10 for more details.

This tax guide also describes the scope of the legislation and the effect of the changes resulting from the Finance Act 1976 and subsequent Finance Acts. Most of the relevant provisions are now in part 3 chapters 2 to 11 Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003).

Unless otherwise stated the statutory references in this tax guide are to ITEPA 2003.

References to the relevant legislation are shown at the top of each paragraph. If you’re in doubt, consult the wording of the statute on the legislation website.

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Published 30 December 2019
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