Rates of interest on accommodation deposit loans and advance loans available to MPs

Request

Under and FOI request could I ask what the rates of interest are for MP’s who take out an Advance, secondly what is the rate of interest on accommodation deposits ?


Response

IPSA holds the information that you request.

Interest is not charged for advance loans or accommodation deposits.  Under HMRC rules, IPSA is able to provide interest free loans of up to £5000 at a time to MPs.

Ref:
FOI2012-A097
Disclosure:
26 November 2012
Categories:
MPs' ACCOMMODATION
Exemptions Applied:
None