Staff Loans are advances against future pay with HMRC approval. There is no fringe benefit on loans made for a fixed period, at a fixed rate of interest, when the interest paid is not less than the HMRC official rate to comply with UK legislation and HMRC Guidance: Beneficial Loan Arrangements (480).
UK Staff Loans are available to CM consultants who are UK resident. You may apply for a staff loan agreement to your local employer, Charles Marcus Group Services Ltd. Requests for advances are subject to availability of sufficient funds in CM Reserves. Transfers will be made to your UK bank account. Advances will be shown in the Staff Loans column of your CM Reserves report.
Interest on the loan balance outstanding will be charged weekly to reserves at 2.25% pa. This is above the HMRC official rate at which the loan would create a fringe benefit.
Enquiries to cmhq@charlesmarcus.com
UK Staff Loans are available to CM consultants who are UK resident. You may apply for a staff loan agreement to your local employer, Charles Marcus Group Services Ltd. Requests for advances are subject to availability of sufficient funds in CM Reserves. Transfers will be made to your UK bank account. Advances will be shown in the Staff Loans column of your CM Reserves report.
Interest on the loan balance outstanding will be charged weekly to reserves at 2.25% pa. This is above the HMRC official rate at which the loan would create a fringe benefit.
Enquiries to cmhq@charlesmarcus.com