Omar lives in a company flat that cost his employer £105,000 in June 2015.The annual value of the flat is £2,500. The accommodation is not job- related. Calculate Omar taxable benefit for the tax year 2020/21 £750 £2,500 £3,250 £2,625

Omar lives in a company flat that cost his employer £105,000 in June 2015.The annual value of the flat is £2,500. The accommodation is not job- related. Calculate Omar taxable benefit for the tax year 2020/21 £750 £2,500 £3,250 £2,625

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Omar lives in a company flat that cost his employer £105,000 in June 2015.The annual value of the flat is £2,500. The accommodation is not job-
related.
Calculate Omar taxable benefit for the tax year 2020/21
£750
£2,500
£3,250
£2,625

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