I've been offered a flat in London instead of a pay rise. I feel like I'm getting a great deal, but I just want to run this by people in case there's something I'm missing here.
Quick background. I own a home, but am relocating (of my own choosing). Therefore I will still have my main residence as the place I own. The town flat will be considered as mon-fri accommodation.
My thinking is as follows:
For every £1,000 I'm paid (Yes, I'm English) I receive around £700 of it, after tax. Therefore, if the flat was rented through the company, there will be no earnings tax to be paid, right?
What am I missing, can anyone tell me information that I or my boss might not have considered with this deal?