SE13331 - Termination payments and benefits: Section 148 ICTA 1988: living accommodation after 6 April 1998: "cash equivalent": definitions
Section 596B ICTA 1988
This is a list of definitions relevant to calculating the “cash equivalent” of living accommodation for Section 148 ICTA 1988 purposes:
| Term | Definition |
| Relevant person | The person providing
the accommodation and any person “connected” with (see
below) that person.
Note: for benefits received on or after 6 April 1998, the definition was extended by Section 93(2) FA 1998 to the following: The person providing the accommodation, the employer or former employer of the recipient of the benefit and any person “connected” with (see below) any of those persons |
| connected with | Whether a person is “connected with” another in this context is determined by Section 839 ICTA 1988 (see CG14580 onwards which deals with the virtually identical Section 286 TCGA 1992). |
| Estate or interest | includes a freehold or leasehold interest. So a tenant or sub-tenant has an “interest” in the property |
| Annual value | See SE11432 onwards: the definition is the same as for Section 145(2) ICTA 1988 purposes |
| Market value | See SE11478 to SE11479: the definition is the same as for Section 146 ICTA 1988 purposes |
