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Assets Made Available To An Employee

The document discusses tax obligations related to assets an employer makes available for employee use, noting different reporting requirements depending on if the asset is only for work or also personal use. Calculating the value of such benefits can be complex with various considerations.

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SenthilmaniThuvarakan
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25 views1 page

Assets Made Available To An Employee

The document discusses tax obligations related to assets an employer makes available for employee use, noting different reporting requirements depending on if the asset is only for work or also personal use. Calculating the value of such benefits can be complex with various considerations.

Uploaded by

SenthilmaniThuvarakan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Title Assets made available to an employee

Pub Date 25/01/2024


Category Payroll
Agency
HM Revenue & Customs
Character

Number

Summary

Assets such as computers, televisions and bicycles that are made available to employees can
create certain tax, National Insurance and reporting obligations. There is no requirement to
report anything to HMRC if the asset is office equipment only used for business use. Assets that
are made available as part of a salary sacrifice arrangement will usually need to be reported to
HMRC.

If the assets are for personal and business use, then they must be reported on a P11D form and
Class 1A National Insurance will be due on the value of the benefit. A P11D form is a form used
by employers to list certain ‘benefits in kind’ provided to directors or employees.

Working out the value of an asset made available to an employee can be quite complex and
there are various steps that need to be followed depending on the circumstances at hand.

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