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Glazers Chartered Accountants,
843 Finchley Road, London, NW11 8NA.
T: 020 8458 7427, F: 020 8458 8504
E: quality@glazers.co.uk
843 Finchley Road, London, NW11 8NA.
T: 020 8458 7427, F: 020 8458 8504
E: quality@glazers.co.uk
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NewsTax NewsTax News 2009Beneficial Loan Rate
Tax News 2009
Beneficial Loan Rate
HMRC have announced a reduction in the beneficial loan rate of interest from 6.25% to 4.75% from 1 March 2009. This is the rate of interest which is used to calculate the value of the benefit provided to directors and employees where they receive a cheap or interest free loan from their employer/company.
This loan interest, along with other benefits and expenses provided to directors and employees, should be reported to HMRC on a form P11D.
Please do get in touch if you require help with the completion of these forms which are completed on a tax year basis.
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