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Back to basics: Writing off employee loans

Continuing our series of basic informative articles, Natasha Kaye and Matthew Wentworth, of Olswang LLP, discuss the writing off of employee loans

 
Continuing our series of basic informative articles Natasha Kaye and Matthew Wentworth of Olswang LLP discuss the writing off of employee loans
 
The write-off or release of a loan made to an employee may be desirable or necessary in a range of circumstances. This article examines the income tax and NICs consequences which may arise when a loan made to an employee is released or written off.
 
A write-off or release of an employee...

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