Commentary on Sections Example 3 Ne = £5,000; Da = 183; De = 183; Smg = 0 Section 416: Notional interest treated as paid if amount charged for beneficial loan
1796.This section is the equivalent of section 184 of this Act (interest treated as paid) in the benefits code and is written in the same terms.
1797.It allows relief in respect of the benefit of a loan which falls within this Chapter, but prevents it from being treated as real interest paid under deduction of tax.