The Taxes (Interest Rate) (Amendment) Regulations, SI 2023/216, increase the official rate of interest from 2% to 2.25% per annum, with effect from 6 April 2023. The official rate is used for the purpose of calculating the taxable benefit of employer-provided ‘beneficial loans’ and in determining the taxable benefit of some employer-provided living accommodation which cost more than £75,000.
The Taxes (Interest Rate) (Amendment) Regulations, SI 2023/216, increase the official rate of interest from 2% to 2.25% per annum, with effect from 6 April 2023. The official rate is used for the purpose of calculating the taxable benefit of employer-provided ‘beneficial loans’ and in determining the taxable benefit of some employer-provided living accommodation which cost more than £75,000.
