This article only applies to customers that have purchased the P11D Module.

If the total of all loans made to the employee is below a threshold set by government legislation (as at 2019-2020 this is £10,000) then there is no taxable benefit.

Setting up/amending loan codes

Loan Codes are determined by government legislation. If new loan codes are required, you will be notified via your P11D update documentation. Steps to add a new loan code are listed below for reference.

1. Click Payroll, double-click P11D Module, double-click General File Maintenance, then click Loans.
2. The existing loan codes are listed. To add a new one, click Add 
3. Enter the Loan Code and Description as provided in the guide.
4. Click 
5. Click Exit 

To add beneficial loan details to an employee

Beneficial Loan details can be added to employees using the Data Loader, profile 73 - P11D Loan Import. Alternatively, you can add loans to individual employees by following the steps below.

1. Click Payroll, double-click P11D Module, then click Employee Benefit Details.
2. Use the Lookup  to select the Employee Number and the Tax Year.
3. Click the Loans tab.
4. Click Add 
5. Use the Lookup  to select the Loan Code.
6. Enter the Loan Start Date, and if know, the Loan End Date.
7. Enter the Maximum Balance at 5th April of the previous year (if the loan started during this tax year, enter the starting balance).
8. Enter the Maximum Balance at 5th April at the end of the tax year (this is zero if the loan was paid off by the end of the year. You will need to enter a Loan End Date if this value is zero).
9. Enter the amount of Interest Paid in Tax Year if there was any.
10. Enter the Number of Borrowers (this will default to 1).
11. If the employee receives MIRAS (Mortgage Interest Relief At Source) tax relief on the loan, enter yes in the MIRAS (Y/N) box, otherwise, enter no.
12. If the loan was written off, enter yes in the Written-off or Waived (Y/N) box, otherwise enter no.
13. Enter any Loan Foregone amount applicable.
14. Click Save 
15. Click Exit