Particular benefits: assets placed at the disposal of a director or employee
Section 205(1) ITEPA 2003
Note: This page explains HMRC’s approach to assets made available without transfer for tax years 2016 to 2017 and earlier. For tax years 2017 to 2018 onwards, see EIM21873.
Directors and employees often have an asset placed at their disposal without ownership of the asset being transferred to them. If that is a benefit to them rather than a fair bargain (see EIM21004), there are special rules (see EIM21631) for determining the value of the benefit to be charged (except for 2015/16 and earlier, the employment is an excluded employment (see EIM20007)).
For example, a company may own a yacht that is available for private use by the directors or their families.
The special rules apply if: