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MC Question 10

Max is employed by Star Ltd. On 6 April 2014, Star Ltd provided Max with a camera for his personal use. The camera had a market value of £2,000 on 6 April 2014.

On 6 April 2015, Star Ltd gave the camera to Max for free. The camera had a market value of £1,400 on 6 April 2015.

What is Max’s taxable benefit in respect of the camera for the tax year 2015–16?

A £1,000
B £1,400
C £2,000
D £1,600