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Perhaps I was unclear - my employer will not be covering the cost of this, I will be covering the cost personally. As such, it is a tax deduction question, not benefit-in-kind.
Thanks for the update.
So if there is no personal relief available, is renting the apartment through a ltd company, and paying a pro-rated daily rate to the company for the days it is in use (roughly 50% of the time) a legitimate strategy? This would presumably give a corporation tax relief on the unused time (since costs would be more than the daily amounts charged) and would not incur BIK since it's being paid at market rate?
I'm unsure what you mean by working out the economic benefit of doing so. What are the considerations?
As an example, say the rent is £500 per month, and assume a month has 30 days and there are no other costs.
The company pays £500 rent, I would pay £250 to the company for the days when the flat was used (15 days). This would leave the ltd company with a £250 loss per month, which would be a tax write-off (corporation tax), assuming the company has other income, which it does.
Are there other considerations here that I am missing? Is there anything wrong with this structure?