# Income Tax (Earnings and Pensions) Act 2003, Section 173: Loans to which this Chapter applies

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

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

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Source: https://www.legislation.gov.uk/ukpga/2003/1/section/173 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/section-173
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.