Employment Rights Act 1996: Governs basic employment rights including terms and conditions of employment, protection of wages, and how the loan affects the employment relationship
Consumer Credit Act 1974: Regulates credit agreements, including specific rules for loans over £25,000 and mandatory information requirements for borrowers
Financial Services and Markets Act 2000: Provides regulatory framework for financial services and determines whether the loan arrangement falls under regulated activities
Income Tax Act 2007 and Income Tax (Earnings and Pensions) Act 2003: Covers tax implications of beneficial loan arrangements, treatment of interest-free or low-interest loans, and benefit in kind considerations
Companies Act 2006: Regulates directors' duties, disclosure requirements, and company's powers to make loans to employees
Data Protection Act 2018 and UK GDPR: Governs the handling of personal and financial information and privacy considerations in loan agreements
Equality Act 2010: Ensures loan terms and availability don't discriminate and promotes fair treatment in loan arrangements
Financial Services (Distance Marketing) Regulations 2004: Applies to loan agreements conducted remotely or through distance communication
Limitations Act 1980: Sets time limits for enforcing loan agreements and statute of limitations for recovery
Unfair Contract Terms Act 1977: Ensures terms are fair and reasonable and provides protection against unfair terms in loan agreements
FCA Regulations: Financial Conduct Authority regulations that may apply to certain types of loan arrangements
HMRC Requirements: Her Majesty's Revenue and Customs requirements for reporting and taxing employee loans
Corporate Governance Requirements: Internal company policies, procedures and governance requirements that affect employee loan arrangements
