# Income Tax (Earnings and Pensions) Act 2003, Section 103: Method of calculating cash equivalent

Extent: E+W+S+N.I.

(1) The cash equivalent is calculated—
(a) under section 105 if the cost of providing the living accommodation does not exceed £75,000; and
(b) under section 106 if the cost of providing the living accommodation exceeds £75,000.
(2) Section 104 (general rule) sets out how to calculate the cost of providing living accommodation for the purpose of determining whether or not it exceeds £75,000.
(3) In this Chapter—
“annual value”,
“person involved in providing accommodation”, and
“the property”,
have the meaning given by sections 110 to 113, and “the taxable period” has the meaning given by section 102(1) .

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Source: https://www.legislation.gov.uk/ukpga/2003/1/section/103 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/section-103
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.