FTTTx Income tax – Employment Income – cars with finance agreements in the name of a limited company – all finance payments entered in directors loan accounts -were cars made available within meaning of s114 ITEPA – yes, car benefit charges apply. Fuel allowances paid then excluded from approved payments s120 ITEPA -subsequent transfer of car to a director is subject to tax under s206 ITEPA. Cost of hire of executive box at football club – was there a benefit in kind to directors-no. Appeals allowed in part
Citations:
[2010] UKFTT 503 (TC)
Links:
Jurisdiction:
England and Wales
Income Tax
Updated: 27 August 2022; Ref: scu.426615