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Employer loan
M635
Posts: 63 Forumite
Hi,
Sorry if this is the wrong board.
I'm looking at taking a loan from my employer for £7000 at a preferential interest rate, my question is do I pay BIK on the whole 7k or just the 2k which is above the 5k tax free value.
I've looked online and cannot find the answer or a calculator to work this out.
Thanks
Sorry if this is the wrong board.
I'm looking at taking a loan from my employer for £7000 at a preferential interest rate, my question is do I pay BIK on the whole 7k or just the 2k which is above the 5k tax free value.
I've looked online and cannot find the answer or a calculator to work this out.
Thanks
0
Comments
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Might be better to put it on the cutting tax board as they have more knowledge on this matter. This is for benefit advice.0
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