Commentary on Sections Schedule 7: Transitionals and Savings Part 3: Employment income: earnings and benefits etc. treated as earnings Paragraph 26
3671.This paragraph deals with the change described in Change 28 in Annex 1 (using Y for the number of days in the tax year in place of 365 days). It prevents the change applying where section 183 applies in relation to section 177 (the fixed rate loan exception) in the case of loans made in a leap year and before 6 April 2003.