Interest on Beneficial Loans

Inside Track

Interest on Beneficial Loans14 Mar

The official rate of interest on Beneficial Loans changed on 1st March 2009 to 4.75% ( previously 6.25%)

The Average Rate for 2008-09 is 6.10%

When an employee receives a cheap or interest free loan from their employer, this is the rate of interest used to calculate the value of the benefit provided.

The loan interest is then detailed on the form P11D at the end of the tax year, along with any other benefits such as Car and Fuel.

Business Coaching

timmajorsmall Tim’s Top Tip:
Stop using your diary for just appointments! Use it to…..

Plan how you will spend your daily, weekly, monthly, yearly time working ON your business.
Set “SMART” (Specific, Measurable, Achievable,Realistic, Timely) business goals in your diary.
Do not confuse tasks with goals. Put them in your diary and remember - tasks are just steps towards your goals.
Balance your life by planning your private goals, time off, significant dates, and life tasks in the same diary.
Use an electronic diary. (Googlemail is brilliant) It is then easy to default the routine items.

Tim Major
Action Coach

A growing number of our clients are achieving significant results through Business Coaching. If you are looking to run your business more successfully, prepare it for sale or just spend less time working in it, you should give Tim a call today on 07870 218699.