Train Season Ticket - Loan / Credit Card???

antonic

Here is a link to the info you need

3. Exemption threshold for employer provided beneficial loans

The threshold for employment-related taxable cheap loans to be treated as earnings of the employment,will increase from the current threshold of £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.


http://www.hmrc.gov.uk/budget2013/individuals.htm

ChrisRFincham wrote: »

My season ticket from Coventry to London is £8k + p.a. My employer can loan me up to £5k tax free and I have to find the rest. Not exactly the same subject but does anyone know if in the last budget HMRC are planning to raise the tax free amount on a season ticket loan from £5000 up to £10,000 from next year? I've heard this might be the case but cannot get anyone to verify it. Thanks