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Search results: 6 article(s) found in topic: Loans - keyword: Employees

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Writing off a debt owed by an former employee

An employee left their job with your company a year ago. They owed it £1,500 for a season ticket loan. You lost track of them so the directors have decided to write off the debt. What are the tax consequences? More...


New review of loan charge announced

HMRC’s deadline for reporting disguised remuneration involving loans was April 2019. However, the government has ordered a new review. How might this affect you and your business? More...


Do you have to declare a company loan?

Last year you used £15,000 of company money to buy yourself a new car. Both you and your company will have to declare the loan to HMRC. Is there a legitimate way to avoid having to do this? More...


Termination payments and company loans

Where the balance of a loan to an employee, say a season ticket loan, is written off as part of a severance deal, it can result in hefty tax and NI charges. How can you structure the pay-off to avoid these? More...


Does a car loan count as disguised remuneration?

You’ve heard about the possible tax savings of employee car ownership schemes (ECOSs), but one of your colleagues has warned that these can be caught by the Taxman’s “disguised remuneration” anti-avoidance rules. Is he right? More...


Extra sales

Your company’s salesman receives a monthly salary plus a commission based on sales. They’ve now asked if you could lend them £15,000 to be repaid from their commission. What’s the Taxman likely to think about all this? More...
Last updated: 01.04.2020

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