Section 180 (4) and (5) ITEPA 2003

EIM26136 explains that a loan on which the whole of any interest paid would qualify for tax relief under the specified provisions will be exempt from being treated as a taxable cheap loan.

This should not be confused with the rules in section 180(5) ITEPA 2003 which define ‘qualifying loans’ solely for the purpose of identifying ‘non-qualifying loans’ as used in the rules relating to the small loans threshold of £10,000 (£5,000 for 2013/14 and earlier tax years) (EIM26140 onwards).

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.