Official Rate Of Interest
From 6 April 2010 the official rate of interest applying to interest-free or low interest loans made to employees will be 4%. The current rate is 4.75%. Employees are generally liable to tax on a benefit equal to the amount of interest, calculated at the official rate, where the balance of the loan exceeds £5,000 at any point in the tax year.
Internet link: HMRC beneficial loan interest rate
Lambert Roper & Horsfield Limited | LRH Wealth
Management Limited
Halifax Office: The Old Woolcombers Mill, 12 - 14 Union Street South, Halifax, West
Yorkshire, HX1 2LE.
Wakefield Office: 13 High Street, Horbury, Wakefield, WF4 5AB
T: +44 (0) 1422 360788 F: +44
(0) 1422 380201 E: mail@lrh.co.uk
Lambert Roper & Horsfield Limited is registered to carry on audit work, auditing services and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.
LRH Wealth Management Limited is authorised and regulated
by the Financial Services Authority.
Registered in England - Company Number 06255775
