Commentary on Sections Example 3 £150(Pe) – £50(E) = £100 Section 173: Loans to which this Chapter applies
665.This section describes the loans to which the Chapter applies. It derives from section 160 of ICTA.
666.Subsection (1) applies this Chapter to loans if they are employment-related.
667.Subsection (2) defines “loan” and sets out what is meant by making a loan.
668.Subsection (3) is a reminder that sections 288 and 289 of this Act (limited exemption for certain bridging loans connected with employment moves) may mitigate the charge under these provisions.