Beta This part of GOV.UK is being rebuilt – find out what this means

HMRC internal manual

Employment Income Manual

From
HM Revenue & Customs
Updated
, see all updates

The benefits code: beneficial loans: contents

Part 3 Chapter 7 ITEPA 2003

  1. EIM26101
    Beneficial loans: general
  2. EIM26102
    When a chargeable benefit arises: taxable cheap loans
  3. EIM26103
    Amount chargeable: the cash equivalent
  4. EIM26104
    Amount of the official rate
  5. EIM26105
    Loans in foreign currencies
  6. EIM26106
    Official rates for certain foreign currencies
  7. EIM26107
    When to use the sterling official rate and when a foreign currency rate
  8. EIM26108
    Meaning of loan
  9. EIM26109
    Identifying the loan
  10. EIM26110
    Meaning of making a loan: loan made by third party - employee benefit trust
  11. EIM26111
    Loans taken over from another person
  12. EIM26112
    Meaning of relative
  13. EIM26113
    Meaning of employment-related loan
  14. EIM26114
    Exception where loan made by an individual
  15. EIM26115
    Exception where loan made by an individual: continued
  16. EIM26116
    Loans released or written off
  17. EIM26130
    Examples
  18. EIM26132
    Exemptions: general
  19. EIM26135
    Exemptions: contrasting treatment where some or part of the interest would qualify for relief
  20. EIM26136
    Exemptions: fully qualifying loans
  21. EIM26137
    Exemptions: qualifying and non-qualifying loans
  22. EIM26140
    Exemptions: small loans
  23. EIM26142
    Exemptions: small loans: example
  24. EIM26145
    Exemptions: small non-qualifying loans
  25. EIM26146
    Exemptions: small non-qualifying loans: example
  26. EIM26150
    Exemptions: no benefit derived from loan to relative
  27. EIM26152
    Exemptions: loans for fixed periods at fixed interest
  28. EIM26153
    Exemptions: loans for fixed periods at fixed interest: example
  29. EIM26155
    Advances of expenses
  30. EIM26156
    Advances of expenses: consequences
  31. EIM26158
    Exemption for commercial loans
  32. EIM26159
    Exemption for commercial loans: what are comparable loans
  33. EIM26160
    Exemption for commercial loans: meaning of substantial proportion
  34. EIM26162
    Exemption for commercial loans: meaning of at or about the time
  35. EIM26164
    Exemption for commercial loans: meaning of members of the public at large
  36. EIM26170
    Exemption for loans varied onto commercial terms
  37. EIM26171
    Exemption for loans varied onto commercial terms: continued
  38. EIM26175
    Exemption for loans varied onto commercial terms: meaning of relevant loans
  39. EIM26176
    Exemption for loans varied onto commercial terms: meaning of on the same terms
  40. EIM26180
    Aggregation of loans
  41. EIM26190
    Aggregation of loans: continued
  42. EIM26192
    Elections for aggregation
  43. EIM26198
    When may balances be netted off
  44. EIM26200
    Cash equivalent: the averaging and the precise method
  45. EIM26210
    The averaging method
  46. EIM26212
    Meaning of maximum balance on a day
  47. EIM26215
    Averaging method: step by step
  48. EIM26217
    Number of whole months
  49. EIM26220
    The average official rate
  50. EIM26221
    Example of calculation of cash equivalent using the averaging method
  51. EIM26225
    When to use the averaging method
  52. EIM26230
    The precise method
  53. EIM26231
    Precise method: step by step
  54. EIM26235
    Formula for the precise method
  55. EIM26240
    Election for the precise method
  56. EIM26242
    Election for the precise method: time limit for election
  57. EIM26245
    Precise method: consulting an Inspector
  58. EIM26250
    Cash equivalent: what interest paid is taken into account
  59. EIM26251
    Cash equivalent: what interest is taken into account: interest capitalised
  60. EIM26252
    Cash equivalent: interest paid half yearly
  61. EIM26253
    Cash equivalent: interest paid half yearly: example
  62. EIM26255
    Cash equivalent: interest paid after assessment final
  63. EIM26257
    Cash equivalent: late interest payments: doubts about obligation to pay
  64. EIM26258
    Late interest payments: action before listing appeal
  65. EIM26260
    Order of repayment of successive loans
  66. EIM26261
    Order of repayment of successive loans: rule in Clayton's case
  67. EIM26270
    Cash equivalent of loan treated as interest paid
  68. EIM26280
    Apportionment of cash equivalent of joint and several loan to two or more chargeable employees
  69. EIM26300
    List of examples
  70. EIM26311
    Example of steadily reducing cheap loan
  71. EIM26312
    Example of a fluctuating cheap loan account
  72. EIM26313
    Example of where an Inspector should elect for the precise method
  73. EIM26314
    Example of some loans subject to aggregation and others not
  74. EIM26500
    Interaction between employment income and other tax charges: loans from close companies: general
  75. EIM26505
    Interaction between employment income and other tax charges: director's current or loan accounts with a close company
  76. EIM26510
    Interaction between employment income and other tax charges: treatment of misappropriations in company investigation cases
  77. EIM26515
    Alternative finance arrangements - Islamic finance
  78. EIM26520
    Loans made by superannuation funds