Preferential loans from employer to employee

Cork2021 · 28-08-2022 11:49am #1

Hi,

ive been thinking recently about asking my employer for a preferential loan to clear some debts and to buy a site…. How does this work? I’ve seen that it’s BIK on revenue but how do I repay my employer the amount? Is it through my salary etc??? Any help would be great.

Cork2021 · 18-09-2022 9:58am

Has anyone any experience of the above question???

Jim_Hodge · 18-09-2022 10:26am

Google is your friend

Preferential loans (revenue.ie)

You pay PAYE, PRSI and USC on it for a start.

Cork2021 · 18-09-2022 1:34pm

Thanks Jim,

it’s the paying it back thing is what I’d like to figure out

coylemj · 18-09-2022 2:18pm

https://www.boards.ie/discussion/comment/119633798#Comment_119633798

I'd expect that, for ease of administration, most would want the repayments to be deducted from your salary i.e. it would be done through the payroll.

But it's totally between you and your employer.

Cork2021 · 18-09-2022 3:27pm

https://www.boards.ie/discussion/comment/119633973#Comment_119633973

Thanks. Yeah it’s something I must enquire about and see do they actually do it before I make a decision

Preferential loans from employer to employee

Comments