*8.5 Jim is the managing director of a company and earns a basic salary in 2016-17 of

£180,000. He receives benefits from the company during the year as follows:

(a) He is provided with the use of a company house which has an annual value of

£9,750 and which cost his employer £250,000. Jim makes no contribution towards the cost of the house or towards its running costs which cost the company £2,300 in 2016-17. The company has also furnished the house at a cost of £18,500. Jim's occupation of the house is not job-related.

(b) He is provided with a petrol-engined company car which had a list price when new of £45,000 and which has an emission rating of 143g/km. The company pays all running costs.

(c) He is provided with a company loan of £50,000 on which he is charged interest at 1.25% per annum.

Calculate Jim's taxable benefits in 2016-17 (assume an official rate of interest of 3% per annum).