Beneficial loans

From 6 April 2007 the official rate of interest for calculating the cash equivalent of beneficial loans will rise from 5.00% to 6.25%.

Form P11D(INT) for 2007-08 will be prepared early next year, and be available in March 2008. It will show both the average and actual official rates of interest for tax year 2007-08 (6 April 2007 to 5 April 2008).