331A Student loans: certain interest to be disregarded.

1

If—

a

a loan is made to a person under any of the relevant student loan provisions,

b

an amount is recovered from him in respect of the loan,

c

an amount is repaid to him in respect of the amount recovered, and

d

interest is paid to him in respect of the amount repaid,

the interest shall be disregarded for all purposes of income tax.

2

For the purposes of subsection (1) above the relevant student loan provisions are—

a

section 22 of the M1Teaching and Higher Education Act 1998;

b

section 73(f) of the M2Education (Scotland) Act 1980;

c

Article 3 of the M3Education (Student Support) (Northern Ireland) Order 1998.