Related Commentary  Related HMRC Manuals

385(1)  References in this Chapter to a loan being used or used in any way–

(a)are references to the money lent being applied or, as the case may be, applied in that way, and

(b)except in section 403 include references to a loan being used to meet expenditure already incurred or, as the case may be, already incurred on such a use.

385(2)  Sections 392, 396, 398, 401 and 403 apply to a loan only if it is made–

(a)in connection with the use of money, and

(b)on the occasion of its use or within what is in the circumstances a reasonable time from its use.

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