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Official Interest Rate for Calculating Tax Due on Beneficial Loans - Rate frozen for 2008/09
View the previous news item for P11D Interest Rates
13 March 2008
Income tax paid by an employee on a subsidised loan provided by their employer is based on the difference between the interest rate actually charged and HMRC's "official rate" of interest. The official rate has been set at 6.25% for 2007/08 and HMRC has confirmed that this will be frozen for the 2008/09 tax year, subject to review in the event of significant rate changes.
...UK Payroll News - Latest
Sources:
Beneficial loan arrangements - official rates
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