Wages-in-kind is defined as forming part of the employee's wage but is not paid in cash. It is an employment benefit and therefore subject to payroll taxes.
There are two categories of wages-in-kind:
- Ìý
•ÌýÌýÌýÌý the employee becomes the owner
- Ìý
•ÌýÌýÌýÌý the employer remains the owner
The wage in kind is valued as the amount of the purchase invoice including VAT. If the purchase invoice is not available, then the benefit value is based on the quotation or a reasonable estimate. The employer can adjust the value later, if necessary.
Where the employer retains ownership
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 17 Mar 2025 15:34