How Living Accommodation Benefit Is Taxed
When an employer provides an employee with living accommodation, the employee is generally liable for income tax on the taxable value of that accommodation. The calculation has two parts:
- Basic charge: Equal to the property's annual value (gross rateable value as at 31 March 1990, or market rent equivalent for newer properties). This applies regardless of the property's purchase price.
- Additional charge: Applies only when the property cost the employer more than £75,000. Calculated as (cost − £75,000) × the official rate of interest (2.25% for 2026/27). This reflects the cost of financing the excess over the threshold.
The combined basic and additional charges form the total taxable benefit. The employee pays income tax at their marginal rate, and the employer pays Class 1A NIC at 13.8% on the same amount.
Cost of Property Threshold
If the employer has owned the property for more than six years when it is first made available to the employee, the market value at the date of first availability is used instead of the original cost. This prevents employers from holding old property at low book values to avoid the additional charge.