UK Staff Loans are available to CM consultants who are UK resident. You may apply for a two year staff loan from your local employer, Charles Marcus Group Services Ltd, to receive advances against future pay.
Requests made to cmhq@charlesmarcus.com are subject to availability of sufficient funds in CM Reserves. Transfers will be made to your UK bank account for both countries. Advances will be shown in the Staff Loans column of your CM Reserves report.
Repayments of staff loans can be made direct to your local employer. The spirit of the regulations includes payment of interest and capital repayments during the term of the loan. This is intended to be a short-term loan facility with minimum interest payment.
Interest on the balance outstanding will be charged weekly to reserves at 2.25% pa. This is above the official rate at which the loan would create a fringe benefit. By requesting an advance you agree to the Ts&Cs in the Staff Loan Agreement which comply with the spirit and the letter of HMRC Guidance: Beneficial Loan Arrangements (480).
Requests made to cmhq@charlesmarcus.com are subject to availability of sufficient funds in CM Reserves. Transfers will be made to your UK bank account for both countries. Advances will be shown in the Staff Loans column of your CM Reserves report.
Repayments of staff loans can be made direct to your local employer. The spirit of the regulations includes payment of interest and capital repayments during the term of the loan. This is intended to be a short-term loan facility with minimum interest payment.
Interest on the balance outstanding will be charged weekly to reserves at 2.25% pa. This is above the official rate at which the loan would create a fringe benefit. By requesting an advance you agree to the Ts&Cs in the Staff Loan Agreement which comply with the spirit and the letter of HMRC Guidance: Beneficial Loan Arrangements (480).