The assets screen

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The following data can be entered:

 

Description

Enter a description for the asset. This is reportable on the P11D

From

Enter the date that the asset was first made available to the employee

To

Enter the last date on which the asset was made available

Market Value

Enter the Market Value of the asset when it was first used to provide a benefit to any employee

Rent for period

Enter the rent or hire charge paid if applicable

Employer Incidental Costs

Enter any additional incidental costs incurred by the employer in the period for which it was made available to the employee

Made good

Enter the amount paid by the employee, if any, for use of the asset

 

Note: The calculation of the benefit of use of an old asset uses 10% rather than 20%. This is a very rare occurrence. However, where you own an asset that was first used to provide a benefit to any of your employees before 6 April 1980, divide the market value figure by 2 before entering it.