There are currently no known outstanding effects for the Income Tax (Trading and Other Income) Act 2005, Section 639.
(1)This section applies if any amount has been included in a person's income under Chapter 6 of Part 4 (release of loan to participator in close company) in respect of any loan or advance.
(2)There is a corresponding reduction in the amount (if any) afterwards falling to be so included under section 633 in respect of the loan or advance.
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