Related Commentary  Related HMRC Manuals

180(1)  Section 175 does not have effect in relation to an employee and a tax year–

(a)if the normal £10,000 threshold is not exceeded, or

(b)where the loan is a non-qualifying loan and that threshold is exceeded, if the £10,000 threshold for non-qualifying loans is not exceeded.

180(2)  The normal £10,000 threshold is not exceeded if at all times in the year the amount outstanding on the loan (or, if two or more employment-related loans which are taxable cheap loans are outstanding in the year, the aggregate of the amount outstanding on them) does not exceed £10,000.

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