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14 May 2014
Welcome to your May 2014 Business Update.As an employer. you may often be willing to lend company money to a director or an employee. This could be to help them pay for a season ticket to commute to work, to help an employee relocate to a new area, or to help a valued employee get over a financial difficulty.
There are however, some rules that must be followed. For example, if the loan is to be repaid in instalments from salary, the employee must either sign an authorisation for such deductions before the loan is made or have an equivalent provision in their employee contract.
In this issue we discuss the rules regarding loans to directors and employees and the different loans that are available.Go Back
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