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Beneficial loans
The official rate of interest on beneficial loans will remain at 2.25% HMRC has confirmed.
PAYE
HMRC has published an update to CWG2 2024-25: Employer further guide to PAYE and National Insurance contributions. It includes the following changes: employers no longer need to notify HMRC if paying a tax-free lump sum over £30 000 to an employee unable to work due to disability injury or ill health; new rules about advance salary payments to employees; and the new rate of employee National Insurance contributions.
Stamp duty
HMRC has made an amendment to its Stamp Taxes on Shares Manual at STSM053100 to clarify that the exemption from the 1.5% stamp duty and stamp duty reserve tax charge which is available for capital-raising arrangements includes situations where shares are issued for non-cash consideration for no consideration at all or where consideration is directly received by another party.
