EIM21230 - The benefits code: valuation of benefits: special rules for certain benefits

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