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Beneficial Loan Arrangements

In: A Tax Guide to Remuneration and Fringe Benefits

Author

Listed:
  • Bill Packer

    (Touche Ross & Co.)

  • Elaine Baker

    (Touche Ross & Co.)

Abstract

Specific legislation was introduced, with effect from 6 April 1978, to tax the benefit arising if loans are provided by an employer to an employee at a nil or low rate of interest. This applies to directors or higher-paid employees only and employees earning less than £8500 can take advantage of a beneficial loan arrangement without any tax liability arising, provided certain simple rules are followed. There must be no contractual entitlement to the provision of a loan, once granted it must not be transferable or assignable and it should not be ‘exchangeable’ for increased emoluments at the employee’s option.

Suggested Citation

  • Bill Packer & Elaine Baker, 1982. "Beneficial Loan Arrangements," Palgrave Macmillan Books, in: A Tax Guide to Remuneration and Fringe Benefits, chapter 8, pages 71-75, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-06674-2_8
    DOI: 10.1007/978-1-349-06674-2_8
    as

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