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Benefit - A.  Assets transferred Setup

Use

This benefit comes into effect when an asset is transferred to the employee at less than the asset's market value. These assets can be car, property, goods etc. If an employer  provides an employee with goods or services, the employee is chargeable on their monetary value. This is normally the second hand value of the goods or services, less any amount the employee reimburses the employer. 

In some cases the second hand value may be less than the cost to the employer, or the employee may not be able legally to turn the goods or services into money (for example wines and spirits). In these cases the general rule would be not to charge all of the cost to the employer in providing the benefit to the employee.

This screen displays the list of pre defined items under this benefit. The user cannot enter a new item under this benefit.

Path

Employer / Setup > Chart of Setup > P11D Masters Setup > Asset transferred

Fields Available

• Asset Transferred: A brief description of the asset will be displayed here.
• Description: A detailed description of the asset will be displayed here.
• Type: This field tells you whether the item is pre defined or user defined.

Associated Tasks

• Done: If you have finished viewing the details and wish to leave this screen, click on this button. You will be taken back to the Assign Benefits screen.

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