Market leading insight for tax experts
View online issue

Beneficial loans: Official rate is frozen

printer Mail

The official rate of interest used in calculating the benefit of a ‘taxable cheap loan’, treated as earnings by ITEPA 2003 s 175, will remain at 4% for the tax year 2011/12 subject to any review in the event of significant changes in interest rates, HMRC announced.

The 4% rate has applied since 6 April 2010 (SI 2010/415).

Issue: 1064
Categories: News , Employment taxes