 |
|
|
|
|
|
Business news : April 2010
Official Rate Of Interest
From 6 April 2010 the official rate of interest applying to interest-free or low interest loans made to employees will be 4%. The current rate is 4.75%. Employees are generally liable to tax on a benefit equal to the amount of interest, calculated at the official rate, where the balance of the loan exceeds £5,000 at any point in the tax year.
Internet link: HMRC beneficial loan interest rate
For more information, contact Gareth Hughes & Co on 01492 593345.
To find out more about how we can help you, or to arrange a free initial meeting, please contact us.
 |
Gareth Hughes & Co - North Wales Accountants |