04 July 2007
My client company employs a salesman, who they are keen to retain. The directors have agreed to lend him £20,000, which will be repaid — the plan is at a rate of £1,000 per month — from his commission; he receives a monthly basic salary, plus a commission based on sales. I need to persuade the directors that there is a benefit in kind charge here and should be grateful if readers could confirm that this is the case. Although, would it be different if the loan was used as a deposit on a house?
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