Interest on Staff Loans
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.
0
Categories
- All Categories
- 1.3K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 387 NEW! Qualifications 2022
- 173 General Qualifications 2022 discussion
- 16 AAT Level 2 Certificate in Accounting
- 77 AAT Level 3 Diploma in Accounting
- 113 AAT Level 4 Diploma in Professional Accounting
- 8.9K For accounting professionals
- 23 coronavirus (Covid-19)
- 276 VAT
- 96 Software
- 281 Tax
- 147 Bookkeeping
- 7.2K General accounting discussion
- 208 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 589 Job postings
- 16 Who can benefit from AAT?
- 37 Where can AAT take me?
- 43 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 67 AAT membership