Tax-free loans to employees extended

Implementation date: 6 April 2014

The Chancellor, George Osborne, announced in Budget 2013 (on the HM Treasury website) an increase from £5,000 to £10,000 in the amount that employers can lend to their employees on a tax-free basis. The limit is increased by the Finance Bill 2014, which, when enacted, will be effective retrospectively from 6 April 2014.