Section 173 | Loans to which this Chapter applies

(1)This Chapter applies to a loan if it is an employment-related loan.

(1A)Where this Chapter applies to a loan—^F1

(a)the loan is a benefit for the purposes of this Chapter (and accordingly it is immaterial whether the terms of the loan constitute a fair bargain), and^F1

(b)sections 175 to 183 make provision about amounts which, in the case of a taxable cheap loan, are to be treated as earnings in certain circumstances .^F1F2

(2)In this Chapter—

(a)“loan” includes any form of credit, and

(b)references to making a loan (and related expressions) include arranging, guaranteeing or in any way facilitating a loan.

(3)Sections 288 and 289 make provision for exemption and relief for certain bridging loans connected with employment moves.