Continuing our series of basic informative articles Natasha Kaye and Matthew Wentworth of Olswang LLP discuss the writing off of employee loans
The write-off or release of a loan made to an employee may be desirable or necessary in a range of circumstances. This article examines the income tax and NICs consequences which may arise when a loan made to an employee is released or written off.
A write-off or release of an employee loan could fall within the charge to income tax in one of three ways by giving rise to:
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Continuing our series of basic informative articles Natasha Kaye and Matthew Wentworth of Olswang LLP discuss the writing off of employee loans
The write-off or release of a loan made to an employee may be desirable or necessary in a range of circumstances. This article examines the income tax and NICs consequences which may arise when a loan made to an employee is released or written off.
A write-off or release of an employee loan could fall within the charge to income tax in one of three ways by giving rise to:
If you are not a subscriber, subscribe now to read this content.
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