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Where Taxpayers and Advisers Meet

Retainer Loan - is it liable to income tax and NI

harryg939
Posts:1
Joined:Wed Jan 15, 2020 10:36 am
Retainer Loan - is it liable to income tax and NI

Postby harryg939 » Wed Jan 15, 2020 10:49 am

My company has offered a "retainer loan" applicable for 3 years and written off after 3 years if I'm still in employment here. There will be no installments or interest. I'm getting conflicting advice on if this will be applicable to income tax and NI. I'm in permanent employment (not a contractor). Any advice would be much appreciated. I'm not looking at ways to avoid tax, I just want to understand the situation before I agree. Thank you

robbob
Posts:3228
Joined:Wed Aug 06, 2008 4:01 pm

Re: Retainer Loan - is it liable to income tax and NI

Postby robbob » Wed Jan 15, 2020 11:15 am

I would guess the treatment will be decider by your employer and no one else - so they should confirm tax treatment in full with any details of how later adjustments would be actioned if there is a change of circumstances.


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