336
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(W2) Benefits:
(W3)
Mini - Car and fuel benefits
CO
2
emissions = 145g/km (rounded down to the nearest 5g/km)
Petrol
engine
Appropriate percentage
= 15% + ((145 - 55) = 90/5 = 18%)
= 33%
(a)
Use of yacht (Two weeks use only)
Annual value: 20% x (MV when first available)
(20%
×
£42,000
×
2/52)
323
Running expenses (£6,000
×
2/52)
231
554
(b) Private medical insurance - Cost to employer
270
(c)
Subsidised canteen - Exempt
benefit
-
(e)
Car scale charges:
Pool
car - exempt benefit
–
Mini (W3) - car benefit
8,745
Mini (W3) - fuel benefit
8,349
(f)
Employer’s contribution into pension - Exempt benefit
-
(g) Beneficial loan £20,000
×
(2% – 1.75%)
50
(h)
Use
of computer equipment
MV when first provided: Use of asset (20% x £2,010)
402
(i)
Living accommodation:
Annual value for ten months
900
Additional charge for expensive accommodation:
[(£138,000 – £75,000)
×
2%
×
10/12]
1,050
Council tax
550
Electricity
260
Telephone
110
Cleaning
130
Use of furniture (20%
×
£7,200
×
10/12)
1,200
4,200
Total assessable benefits
22,570
Car benefit
(33%
×
£26,500)
£8,745
Fuel benefit
(33%
×
£25,300)
£8,349
337
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17. George
(a)
The maximum allowable contribution that George may make into his pension scheme, subject
to his earnings level for a year is his annual allowance limit of £40,000 for 2022/23 plus any
unused allowance brought forward from the previous 3 years. For this purpose we compare the
gross amount of contributions made in the year with annual limits of £40,000 for each tax year
so long as he was a member of a pension scheme for the tax year in question.
His payment of £48,000 will represent a gross pension contribution of £60,000 (48,000 x
100/80). As this exceeds the annual allowance of £40,000 for 2022/23 he will now be able to
use any unused allowance brought forward from the previous 3 years on a FIFO basis i.e.
2019/20, 2020/21 and 2021/22.
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