Written Question·Treasury·UIN 3323

Tax Allowances

Tabled: 30 August 2024

Answered: 9 September 2024

Question

Adam Thompson

To ask the Chancellor of the Exchequer, if she will make an assessment of the viability of an amendment to section 180(1)(a) of the Income Tax (Earnings and Pensions) Act 2003, to increase the maximum value of employer loans in the context of levels of in

Answer

James Murray

Within the current benefit in kind tax rules employers are able to provide their employees with a loan, which can be provided tax free, as long as the total value of the loan is below £10,000. This type of loan can be used to make purchases such as train ...

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