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Beneficial Loans – exempt threshold increase

by Thomas Nock Martin | Mar 24, 2014 | Business Advice

From 6 April 2014, the exempt threshold relating to beneficial loans by employers to employees will be increased from the current £5,000 figure to £10,000!!

What does this mean for Employers?

Employers will therefore no longer be required to report loan details on form P11D where the outstanding balance is £10,000 or less throughout the tax year.

 

 

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