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Mr. Roly was given a beneficial loan of 30,000 at 1% per year by the employer on 1 March 2019 for his personal investment in
Mr. Roly was given a beneficial loan of 30,000 at 1% per year by the employer on 1 March 2019 for his personal investment in property. He repaid an amount of 8,000 on 30 September 2019 and remaining balance amount repaid on 31 December 2020. How much is the taxable benefit amount under precise method for beneficial loan provision to Mr. Roly as per UK Tax Rules? a. 116.67 b. 307.5 c. 408.34 d. 291.67
Mr. Roly was given a beneficial loan of 30,000 at 1% per year by the employer on 1 March 2019 for his personal investment in property. He repaid an amount of 8,000 on 30 September 2019 and remaining balance amount repaid on 31 December 2020. How much is the taxable benefit amount under precise method for beneficial loan provision to Mr. Roly as per UK Tax Rules?
a.
116.67
b.
307.5
c.
408.34
d.
291.67
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