Income Tax (Earnings and Pensions) Act 2003 (c. 1)

Part 3 Employment income: earnings and benefits etc. treated as earnings

Chapter 7 Taxable benefits: loans

Introduction

173 Loans to which this Chapter applies

(1) This Chapter applies to a loan if it is an employment-related loan.

(2) In this Chapter—

(a) “loan” includes any form of credit, and

(b) references to making a loan (and related expressions) include arranging, guaranteeing or in any way facilitating a loan.

(3) Sections 288 and 289 make provision for exemption and relief for certain bridging loans connected with employment moves.