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Employment-related loans

From 6 April 2014, employers can provide staff with tax-free loans of up to £10,000.

Provided that the full amount of the loan is repaid to the employer and total loans outstanding to any one employee do not exceed £10,00 at any time, no tax or NICs will be payable.

This can be a useful benefit for employers and employees.

 

 

Date: 31st March, 2014
Author: Cathy Corns

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