Employer provided benefits in kind: beneficial loans – Budget 20 March 2013

Legislation will be introduced to increase the exempt threshold for the small

loans exemption limit from £5,000 to £10,000 for 2014-15 and subsequent tax

years. As long as the total outstanding balances on all such loans do not exceed

the threshold at any time in a tax year, there is no tax charge.

A negligible number of individuals in the UK will be affected by this change,

however for those affected it will mean a substantial reduction in administration

time if this is the only benefit in kind to be reported.

Back to Main Page – Budget 20 March 2013

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