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Preferential Loan

Green Mile · 2023-02-09 11:21:03

Hi, I know it's outlined on Revenue.ie but I just want to ask just to satisfy any doubt I have. If employer provides a loan of €5,000. The amount is then deducted from the net pay on the payslip plus the the interest charged by the company. Separately to the above, if the loan interest is 5%, that means that the BIK amount…

09-02-2023 11:21am

#1

Green Mile

Registered Users, Registered Users 2 Posts: 498 ✭✭

Join Date: August 2011

Posts: 420

Hi,

I know it's outlined on Revenue.ie but I just want to ask just to satisfy any doubt I have.

If employer provides a loan of €5,000. The amount is then deducted from the net pay on the payslip plus the the interest charged by the company.

Separately to the above, if the loan interest is 5%, that means that the BIK amount is to be €425? i.e. Specified rate 13.5% minus 5% interest rate is 8.5% so the value is 8.5% of €5000? €425 is the value for BIK purposes?

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