SCHEDULES
SCHEDULE 20Self-assessment: discretions exercisable by the Board etc.
The Taxes Act 1988
9
In section 161 of the Taxes Act 1988 (exceptions from charge under section 160 on beneficial loans)—
a
in subsection (3) (exception for certain loans if it is shown that the interest rate is of a certain description) the words “it is shown that” shall cease to have effect; and
b
in subsection (4) (exception for loan to employee’s relative from which employee shows that he derived no benefit) the words “shows that he” shall cease to have effect.