EIM26116 - »Ê¹ÚÌåÓýapp benefits code: beneficial loans: loans released or written off

Sections 62 and 188(1) ITEPA 2003

»Ê¹ÚÌåÓýapp release or writing off of any loan to an employee may be chargeable to tax (see EIM01490 and EIM21740 to EIM21747). It does not matter:

  • for what purpose the loan was applied or
  • whether it was a cheap or interest-free loan

Consult the guidance at EIM01490 and EIM21740 to EIM21747 in relation to all loans written off.