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Calculate jims taxable benefit

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Reference no: EM132538107

Question - Jim is the managing director of a company and earns a basic salary in 2019-20 of £225,000. He receives benefits from the company during the year as it follows:

He is provided with a company loan of £50,000 on which he is charged interest at 0.75% per annum

Calculate Jim's taxable benefit in 2019-20 (assume an official rate of interest of 2.5% per annum).

Reference no: EM132538107

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