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Hi, I have a doubt with this question and i was wondering if you could please help me clear my doubt!
I understand everything except why they calculate (100000*1%*8/12). Why the 8 months is what I dont understand. Please explain this to me.
Thank you so much!Q.) Woojin is provided with a loan, on which he pays interest at 1% per annum, by his employer.
The loan was £100,000 when it was taken out on 6 April 2021 and he repaid £40,000 of the
loan on 6 August 2021.What is Woojin’s beneficial loan benefit for the tax year 2021/22 assuming the average
method of calculation is used?
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