Benefit in Kind Question - Living in Employers Property

[Al Gorithum]

Will appreciate informed advice please.

Scenario:
Higher rate tax paying Director/Owner living in a property owned by the Co.

What's the BIK tax implications please?

Thanks in advance

[Al Gorithum]

Thank you everyone

No rent paid, so it looks like the rental value is taxed as income.

[Al Gorithum]

DaveA8 said:

It seems that you are the owner of the company ? or at least a significant share holder.

If this is the case, you need specialist advice as this is not a straight forward BIK issue, it has ramifications around stamp duty and other charges

There was a case last year and one of the directors stayed a few nights while refurbishing, it was accepted she was doing work but that made no difference and the whole structure was undone, it was a significant amount.

Certainly one to be sure of your position on as HMRC watch it closely.

Interesting. Thank you