Revenue eBrief No. 021/19
01 February 2019
Tax and Duty Manual Part 05-03-08, Form P11D, has been updated to remove "preferential loans which remain outstanding in favour of the employee after the termination of his or her employment" from the list of particulars to be included on a Form P11D.
As a taxable benefit arising by virtue of section 122 (preferential loan arrangements) is within the scope of PAYE, the employer must operate PAYE on the benefit, regardless of whether the individual is a current or former employee.