Section 173 — Income Tax (Earnings and Pensions) Act 2003: Loans to which this Chapter applies

Loans to which this Chapter applies 173 1 This Chapter applies to a loan if it is an employment-related loan. 1A Where this Chapter applies to a loan—

a the loan is a benefit for the purposes of this Chapter (and accordingly it is immaterial whether the terms of the loan constitute a fair bargain),

and b sections 175 to 183 make provision about amounts which, in the case of a taxable cheap loan, are to be treated as earnings in certain circumstances .

2 In this Chapter—

a “ loan ” includes any form of credit, and b references to making a loan (and related expressions) include arranging, guaranteeing or in any way facilitating a loan.

3 Sections 288 and 289 make provision for exemption and relief for certain bridging loans connected with employment moves.