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loans

Furlough and Loan Schemes Extended Post March 2021

The Chancellor has today announced an extension of the support measures available to businesses affected by the coronavirus pandemic and local lockdowns. 

Applications open for Bounce Back Loan Scheme

From 9am this morning, small business owners can apply for the Bounce Back Loan Scheme, by filling out a simple online form, with only seven questions.

Applications open for Bounce Back Loan Scheme

From 9am this morning, small business owners can apply for the Bounce Back Loan Scheme, by filling out a simple online form, with only seven questions.

Loans to directors and staff

If a company makes loans to its employees (including directors) there may be tax consequences. The same may also apply to loans extended to their family members.

Loans to employees

A reminder that if your business makes a loan to your employees or their relatives this can create tax problems for both employees and employers. And please don’t forget that the term “employee” includes directors, and also that loans to family members may be caught.   

Tax and making loans to employees

A reminder that making loans to your employees or their relatives can create tax problems for employees and employers. For example, the employer will have an obligation to report a beneficial loan to HMRC and the deemed benefit would be a taxable benefit in kind for the relevant employee.  

Tax and making loans to employees

A reminder that making loans to your employees or their relatives can create tax problems for employees and employers. For example, the employer will have an obligation to report a beneficial loan to HMRC and the deemed benefit would be a taxable benefit in kind for the relevant employee.  

Beneficial loans to employees

In many cases, making loans to your employees or their relatives can create an obligation to report a beneficial loan to HMRC. The deemed benefit would be a taxable benefit in kind for the relevant employee, and would increase the employer’s Class 1A NIC bill at the end of the tax year.

Beneficial loans to employees

In many cases, making loans to your employees or their relatives can create an obligation to report a beneficial loan to HMRC. The deemed benefit would be a taxable benefit in kind for the relevant employee, and would increase the employer’s Class 1A NIC bill at the end of the tax year.