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
Articles from this Author
1st November, 2018
Budget 2018 - Changes for businesses
22nd October, 2018
Making the most out of your home? Rent a room relief
3rd May, 2018
Tax changes for non-resident corporate landlords
4th April, 2018
EMI options - a current risk
Contact Business Service Partners
Choose from the drop down menu below to select a Partner to contact.
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole