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Woojin is provided with a loan by his employer, on which he pays interest at 1% ...
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Woojin is provided with a loan by his employer, on which he pays interest at 1% per annum. The loan was £100,000 when it was taken out on 6 April 2023 and he repaid £40,000 of the loan on 6 August 2023.
What is Woojin's beneficial loan benefit for the tax year 2023/24 assuming the average method of calculation is used?
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