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Director's beneficial loan and trivial benefit

Director's beneficial loan and trivial benefit

Hi all,

I'm guessing the answer is no, but I don't know why, so I thought I'd ask.

Can the benefit of a beneficial loan be classed as a trivial benefit (and therefore not reportable on P11D), if the value of the benefit comes to less than £50?

Thanks

Oliver

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24th Jun 2019 11:10

How are you going to achieve a benefit of £50 on an official interest rate of 2.5% and a de-minimis loan of £10,000 to attract a benefit in kind?

Unless, of course, it was only £10,000 for a very short period and you are not using averaging.

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24th Jun 2019 11:23

ocooper wrote:

I'm guessing the answer is no, but I don't know why

Not confidence inspiring if you are a professional adviser.

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