Expenses and benefits: loans provided to employees
What to report and pay
If the loans you provide aren바카라 사이트™t exempt, you have to report the costs to HMRC, and deduct or pay National Insurance on them.
Beneficial loans
If you or your business provides a beneficial loan, as defined in the overview, you바카라 사이트™ll need to:
- report it on form P11D
- pay Class 1A National Insurance on the value of the benefit
Loans you write off
You always have to report and pay on loans to employees that you write off, whether or not they are classed as beneficial loans.
You must:
- report it on form P11D
- deduct and pay Class 1 National Insurance (but not PAYE tax) on the value of the benefit