Yousuf was granted a loan of GBP 9800 by his employer on 1 may, 2019 to help finance the purchase of an asset. Interest is payable on the loan at 1.5% p.a. On 1 June 2019, Yousuf repaid GBP 5000. The remaining was still outstanding on 5 April 2020. Calculate taxable benefit a. NIL b. 5000 c. None of the above options d. 4800

Yousuf was granted a loan of GBP 9800 by his employer on 1 may, 2019 to help finance the purchase of an asset. Interest is payable on the loan at 1.5% p.a. On 1 June 2019, Yousuf repaid GBP 5000. The remaining was still outstanding on 5 April 2020. Calculate taxable benefit a. NIL b. 5000 c. None of the above options d. 4800

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter13: Property Transact Ions: Determination Of Gain Or Loss, Basis Considerations, And Nontaxable Exchanges

Section: Chapter Questions

Problem 48P

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