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Gordon is employed in a book shop at an annual salary of £16,000. His employer lets him live in the flat above the shop rent free. The flat's annual value is £6,000. The flat was valued at £60,000 when the shop was bought eight years ago and Gordon has lived there since then. At 6 April 2012 the flat was valued at £100,000. The official interest rate is 4.00%. What is Gordon's taxable benefit for 2012/13? Please input answer: £________ |