Low interest loans

The Revenue has published a new booklet, IR145 Low interest loans provided by employers. As well as explaining the basis on which loans are taxed, the booklet includes a number of worked examples to show the difference between the "normal" method used by employers when preparing figures for reporting on form P11D and the alternative "precise" method that may be used by employees where this gives more favourable results. Although the booklet is aimed at employees, it contains valuable information for employers. - Payroll Briefing 208 - 13 September 2001