Interest on Staff Loans
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SarahL90
Registered Posts: 9 New contributor 🐸
Hi All, It is my understanding if a company charges an interest rate of 2.5% for a staff loan over 10k this doesn't need to be declared on a P11d? I am also assuming this rate is per annum.
As an example if there was a staff loan of 15k at 2.25% interest over 15 months.
This would mean the total loan repayable would be 15,337.50? and Interest would be £28.13 per month decreasing as the loan in paid.
As an example if there was a staff loan of 15k at 2.25% interest over 15 months.
This would mean the total loan repayable would be 15,337.50? and Interest would be £28.13 per month decreasing as the loan in paid.
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