Search Legislation

Finance (No. 2) Act 2017

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Paragraph 37

 Help about opening options

Alternative versions:

Changes to legislation:

There are currently no known outstanding effects for the Finance (No. 2) Act 2017, Paragraph 37. Help about Changes to Legislation

37(1)Sub-paragraph (2) applies where—U.K.

(a)P is treated as taking a relevant step by paragraph 1 by reason of a loan made to a relevant person, and

(b)the loan is an employment-related loan (within the meaning of Chapter 7 of Part 3 of ITEPA 2003).

(2)The effect of section 554Z2(2)(a) of ITEPA 2003 (value of relevant step to count as employment income: application of Part 7A instead of the benefits code) is that the loan is not be treated as a taxable cheap loan for the purposes of Chapter 7 of Part 3 of that Act for—

(a)the tax year in which the relevant step is treated as being taken, and

(b)any subsequent tax year.

Back to top

Options/Help