Commentary on Sections Example 3 £150(Pe) – £50(E) = £100 Section 185: Apportionment of cash equivalent in case of joint loan etc.
721.This section allows the apportionment of the cash equivalent of a loan between two or more employees who are chargeable under this Chapter in respect of the same loan. It derives from paragraph 5A(1) of Schedule 7 to ICTA.