Employment Income

Question 1

What are general earnings?

Answer 1

Any salary, wages or fee. Any gratuity or other profit or incidental benefit of any kind obtained by an employee consisting of money or moneys worth.

Question 2

general earning consisting of money treated as received at the earlier of ?

Answer 2

The time when the payment is made.
The time when a person becomes entitled to the payment.

Question 3

What are some examples of taxable benefits?

Answer 3

1. Vouchers.
2. Living accommodation.
3. Expenses connected with the provision of living accommodation.
4. Car and fuel provided for private use.
5. Assets made available for private use.
6. Any other non monetary benefit provided by reason of the employment.

Question 4

What are the two potential benefits on the provision of living accommodation which does not quality as job related?

Answer 4

Basic rental benefit.
Additional yearly benefit.

Question 5

How is the additional benefit which is applied to expensive accommodation calculated?

Answer 5

(Cost of providing the living accommodation less £75000) x the official rate of interest at the start of the year.

Question 6

How is the emissions threshold calculated for cars with over 50g/km of CO2 emissions ?

Answer 6

Of every 5g/km over the 75g/km (20%) threshold (rounded down to the nearest 5g/km) an additional 1% is added up to a maximum of 37%

Question 7

What is the taxable benefit for a fossil fuel van and what is the taxable fuel benefit for use of the van ?

Answer 7

£3960
£757.

Question 8

What is the taxable benefit for cars with 0g/km or emissions?

Answer 8

2%

Question 9

For hybrid cards with co2 emissions between 1 and 50g/kg, what are the tax percentages based on mile range?

Answer 9

> 130 is 2%
70-129 is 5%
40-69 is 8%
30-39 is 12%
<30 is 14%