EIM26112 | The benefits code: beneficial loans: meaning of relative

Section 174(6) ITEPA 2003

Relative is given a special meaning for the purpose of the charge on beneficial loans or their release or writing off.

Persons defined as relatives include:
- the employee’s spouse - the parents, children and brothers and sisters of both spouses - remoter ancestors or descendants of both spouses, for example, grandparents and grandchildren - the spouses of all the persons mentioned above.

This definition is much wider than that used for:
- other benefits of employees within the benefits code (see EIM20504) - benefits obtained by the use of vouchers or credit-tokens (see EIM16080) - sick pay (see EIM06410).