Zoho payroll logo FAQ
/
Back

How to add Assets Transferred as a Benefit in Kind?

Assets Transferred is a Benefit in Kind used when you transfer ownership of an asset to an employee, such as a company laptop. The cash equivalent is usually based on the market value less any amount the employee pays.

To add Assets Transferred as a Benefit in Kind for an employee:

  1. Go to Employees and open the employee.
  2. Open the Salary tab.
  3. Under Benefits in Kind, click + Add New. If you are still adding the employee, click Benefits in Kind on the Salary step.
  4. Select Assets Transferred as the Benefit Type.
  5. Select the Reporting Type (P11D or PAYE).
  6. Enter the Amount and any Employee Contribution. Zoho Payroll shows the Cash Equivalent.
  7. Enter an optional Description, then click Save.
Add Assets Transferred as a Benefit in Kind

For an overview of Benefits in Kind and when to use P11D or PAYE, refer to Add Employees. You can also add or edit benefits later from the employee’s Salary tab.