TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

BIK – beneficial loan arrangements

HMRC have introduced regulations to amend the official rate of interest used to calculate the value of the benefit in kind on an employment related loan on which tax is due. The rate has been changed to 4% with effect from 6 April 2010.

A table showing the average official rates of interest for past years is available at http://www.hmrc.gov.uk/rates/interest-beneficial.htm