Home For AAT student members AQ 2013 AAT Level 4 (Level 8 in Scotland)

Ptx

simon1234simon1234 Just JoinedRegistered Posts: 4
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

Comments

  • NpsNps Experienced Mentor Registered Posts: 782
    It will be the difference in interest, but remember to time apportion it as he only has the loan for part of the year.
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