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HMRC internal manual

Employment Income Manual

Para 36: loan charge relevant step: duty to provide loan balance information to employer

Schedule 11 F(No 2)A 2017

In order to ensure that an employer can comply with the requirements of the loan charge, they must know the amount, if any, on which PAYE should be operated. If an amount of a loan or quasi-loan made on or after 6 April 1999 by a third party is outstanding at any time from 17 March 2016 to the end of 5 April 2019 or the approved repayment date if appropriate (“the loan charge date”), both the person who made the loan or quasi-loan and the employee who received it must provide information about the loan balance to the employer who is to operate PAYE.

The information must be sufficient for the employer to ascertain the amount of the loan or quasi-loan which is outstanding immediately before the end of the loan charge date. It must include any other information that the employer may reasonably require in order that they can comply with the PAYE regulations.

The information must be provided to the employer before the end of a period of 10 days beginning on the day after the loan charge date.