A work permit holder in the UK, is it true that 100% total amount of allowances provided to me by my UK employer such as housing/utilities/travel, are declared as taxable income in the UK?
In Hong Kong, there are several ways on how to tax the provisions of a place of residence to the employee. ie. If there's evidential certainty that the housing allowance in an employment contract is being spent on accommodation (e.g direct lease by employer, or reimbursed against receipt), then instead of including this total amount as taxable income, only 10% of the value of this perk is added to my base salary as taxable income. Reference: http://www.ird.gov.hk/eng/pdf/pam44e.pdf
Question is: Does the UK have similar accounting/tax practice?
Thanks & look forward to your replies.
In Hong Kong, there are several ways on how to tax the provisions of a place of residence to the employee. ie. If there's evidential certainty that the housing allowance in an employment contract is being spent on accommodation (e.g direct lease by employer, or reimbursed against receipt), then instead of including this total amount as taxable income, only 10% of the value of this perk is added to my base salary as taxable income. Reference: http://www.ird.gov.hk/eng/pdf/pam44e.pdf
Question is: Does the UK have similar accounting/tax practice?
Thanks & look forward to your replies.
