How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Sam Your Own Question

Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13657
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
16196420
Type Your Tax Question Here...
Sam is online now

I would like tax advice regarding my nominee Transport

Customer Question

Hi,
I would like tax advice regarding my nominee Transport for London travel card.
I am given a travel card as part of my remuneration package for myself and for someone who lives at my address. This is a tax free benefit from Transport for London.
If I was to sell this benefit onto my flatmate, would I be liable for tax?
Submitted: 1 year ago.
Category: Tax
Expert:  Sam replied 1 year ago.
Hi
Thanks for your question
In essence yes - as you are making a profit out of selling a benefit meant for you.
And it would be up to you to make a full disclosure to HMRC of what you received for it so they could tax you accordingly.
Let me know if I can be of further assistance.
Thanks
Sam
Customer: replied 1 year ago.

Hi Sam,

Thanks for your prompt reply. I just want to clarify your reply.

It's not actually a benefit meant for me, as I have my own travelcard.

Whether I decide to take up Transport for London's offer of a nominee pass and let my flatmate use it is up to me but doesn't benefit me either way.

Is it still taxable?

Thanks,

Zara

Expert:  Sam replied 1 year ago.
Hi
Thanks for your response
I see its an additional card - then it will be charged as a tax benefit on you and London transport will advise HMRC of the provision of this nominees travel card IF what you pay for it less than it would cost to buy for a non employee.
Let me know if I can be of any further assistance
Thanks
Sam
Customer: replied 1 year ago.

Hi Sam,

Sorry to email again.

This nominee pass (nor my own pass) is not a taxable benefit as part of my remuneration package so Transport for London don't need to do anything there. (I know this may sound odd from a tax perspective but they have agreed with with HMRC.)

I'm just wondering if I was to take up the 'free' offer of the nominee pass from Transport for London and charge my flatmate for it, if I would have to declare this on my self-assessment form?

Thanks,

Zara

Expert:  Sam replied 1 year ago.
Hi
Thanks for your response
Yes as advised initially as you are passing on a benefit (which is by virtue of your employment with London Transport - be it through you advise there is no tax due on said benefit if awarded to you) that does not cost you anything and making money out of it - so my initial advise stands (your first response suggested that this would be done through you nominating this pass to London Transport) but this clearly is your own arrangement so the initial advise is actually the one that applies.
Thanks
Sam

What Customers are Saying:

 
 
 
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
< Previous | Next >
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
 
 
 

Meet The Experts:

 
 
 
  • Sam

    Sam

    Accountant

    Satisfied Customers:

    6894
    26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
< Last | Next >
  • http://ww2.justanswer.com/uploads/TA/Tax Expert/2013-8-21_231010_sam.64x64.jpg Sam's Avatar

    Sam

    Accountant

    Satisfied Customers:

    6894
    26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
  • http://ww2.justanswer.com/uploads/BI/bigduckontax/2013-8-12_222058_1.64x64.jpg bigduckontax's Avatar

    bigduckontax

    Accountant

    Satisfied Customers:

    1772
    FCCA FCMA CGMA ACIS
  • http://ww2.justanswer.com/uploads/TA/TaxRobin/2013-8-28_16186_femalebusinessprofessionalbinderhand11038485.64x64.jpg TaxRobin's Avatar

    TaxRobin

    Tax Consultant

    Satisfied Customers:

    464
    International tax
  • /img/opt/shirt.png taxadvisor.uk's Avatar

    taxadvisor.uk

    Chartered Certified Accountant

    Satisfied Customers:

    2596
    FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
  • http://ww2.justanswer.com/uploads/MS/MsAM/2012-6-9_16426_anna.64x64.jpeg Anna's Avatar

    Anna

    Teacher, writer, biologist

    Satisfied Customers:

    268
    Great research skills, variety of work experiences, teaching experience.
  • http://ww2.justanswer.com/uploads/PD/pdheslin/2012-6-6_232056_pambig.64x64.jpg pdheslin's Avatar

    pdheslin

    Consultant

    Satisfied Customers:

    51
    20+ years of internet site creation and search engine optimization. Dozens of search tools at my disposal.
 
 
 

Related Tax Questions