P11d issue?

[bc185]

Our company client owns a residential property which the Director's daughter is staying in. She is not an employee. The rent paid is less than the market rate. Is this a reportable benefit on the Director and if so how is it calculated? Would there be a benefit on the Director if the daughter paid the market rate? Thanks for assistance.

[bd6759]

The benefit is the rateable value plus 3% of the property value over £75,000, less any rent paid.

Also watch that ATED may in point.

[bc185]

Thanks for response and confirming my thoughts that it's a taxable benefit even although the daughter isn't an employee.
and thanks for ATED pointer - not applicable at the moment but maybe after 1/4/17!