EIM26116 - The benefits code: beneficial loans: loans released or written off
Sections 62 and 188(1) ITEPA 2003 The release or writing off of any loan to an employee may be chargeable to tax (see
EIM01490 and EIM21740 to EIM21748). It does not matter:
* for what purpose the loan was applied, or
* whether it was a cheap or interest-free loan.Consult the guidance at
EIM01490 and EIM21740 to EIM21748 in relation to all loans written off.