{
  "url": "https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/section-173",
  "json_url": "https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/section-173.json",
  "legislation": "ukpga/2003/1",
  "legislation_title": "Income Tax (Earnings and Pensions) Act 2003",
  "legislation_url": "https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003",
  "path": "section/173",
  "kind": "section",
  "number": "173",
  "heading": "Loans to which this Chapter applies",
  "text": "(1) This Chapter applies to a loan if it is an employment-related loan.\n(1A) Where this Chapter applies to a loan—\n(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\n(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 .\n(2) In this Chapter—\n(a) “loan” includes any form of credit, and\n(b) references to making a loan (and related expressions) include arranging, guaranteeing or in any way facilitating a loan.\n(3) Sections 288 and 289 make provision for exemption and relief for certain bridging loans connected with employment moves.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 173(1A) inserted (with effect in accordance with s. 7(9) of the amending Act) by Finance Act 2016 (c. 24), s. 7(8)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 173(1A)(b) substituted (with effect in accordance with Sch. 2 para. 62 of the amending Act) by Finance Act 2017 (c. 10), Sch. 2 para. 42"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2003/1/section/173",
    "retrieved_at": "2026-10-29T09:18:42.395488+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}