Paragraph 5
United Kingdom
Amounts incurred by the person to whom a loan is made—
on penalties or interest or similar amounts incurred as a result of varying the loan, and
on fees, commission or other incidental expenses, incurred for the purpose of obtaining the loan,
shall be left out of account in determining for the purposes of paragraph 3 or 4 whether rights to vary loans are exercisable on the same terms and conditions or loans are held on the same terms.
Notes on Schedule 7A
Textual amendments
- F1
Schs. 6, 6A, 7, 7A repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 paras. 110, 111, Sch 8 Pt. 1 (with Sch. 7)
- F2
Sch. 7A inserted (with effect in accordance with s. 57(2) of the amending Act) by Finance Act 2000 (c. 17), s. 57(1), Sch. 10 para. 5(2)