Point in time view as at 02/12/2019.
Income Tax (Earnings and Pensions) Act 2003, Section 190 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)On the employee’s death a taxable cheap loan is to be treated—
(a)for the purposes of this Chapter as ceasing to be outstanding, and
(b)for the purposes of section 182 (normal method of calculating interest at the official rate) as being discharged on the date of death.
(2)Section 188 (loan released or written off: amount treated as earnings) does not apply in relation to a release or writing off which takes effect on or after the death of the employee.
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