Ptx

simon1234

I wonder if someone could help me get my head round this question, the only one I cannot understand :glare:. On 6th of july, ken was provided with a company loan of £20,000 on which he pays interest at 3% per annum. the official rate of interest in 4%. what is the benefit in kind for 2012/13?..... Many thanks for the help in advance

Nps

It will be the difference in interest, but remember to time apportion it as he only has the loan for part of the year.