Part 5Miscellaneous income
Chapter 5Settlements: amounts treated as income of settlor
Trustees' payments: further provisions
639Loans to participators in close companies
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.