# Income Tax (Earnings and Pensions) Act 2003, Paragraph 27

Extent: E+W+S+N.I.

(1) Subject to paragraph 25(2), where a loan is made before 6th April 2003, section 188 (loan released or written off: amount treated as earnings) applies with the following modifications.
(2) References to the employment in relation to which a loan is an employment-related loan are to be read, in relation to times before 6th April 2003, as references to the employment referred to in section 174 (employment-related loans) as modified by paragraph 17.
(3) In relation to times before 6th April 2003—
(a) in subsection (2)(c), substitute “an employment to which Chapter 2 of Part 5 of ICTA applies” for “not lower-paid employment as a minister of religion”, and
(b) in subsection (3)(a), substitute “ an employment to which Chapter 2 of Part 5 of ICTA does not apply ” for “lower-paid employment as a minister of religion”.

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Source: https://www.legislation.gov.uk/ukpga/2003/1/schedule/7/paragraph/27 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/schedule-7/paragraph-27
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.