HC Deb 19 February 1991 vol 186 c124W
Mr. Nicholas Winterton

To ask the Chancellor of the Exchequer whether he has any plans to treat reduced-rate employee loans as a taxable perk; and if he will make a statement.

Mr. Maude

[holding answer 15 February 1991]: The benefit of interest free or cheap loans provided for employees by employers is already taxable as a benefit-in-kind.

Mr. Nicholas Winterton

To ask the Chancellor of the Exchequer what estimate he makes of the potential revenue to the Exchequer if reduced-rate employee loans were treated for tax purposes in a similar manner to company cars.

Mr. Maude

[holding answer 15 February 1991]: The estimated yield for 1990–91 from the existing tax charge on loans made to employees by their employers is £65 million.