{
  "url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-23B",
  "json_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-23B.json",
  "legislation": "ukpga/2005/5",
  "legislation_title": "Income Tax (Trading and Other Income) Act 2005",
  "legislation_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005",
  "path": "section/23B",
  "kind": "section",
  "number": "23B",
  "heading": "Meaning of “relevant benefit”",
  "text": "(1) The following provisions apply for the purposes of this group of sections.\n(2) “Relevant benefit” means any payment (including a payment by way of a loan), a transfer of money's worth, or any other benefit.\n(3) The assumption of a liability of T by another person is to be treated as the provision of a relevant benefit to T.\n(4) The assumption, by a person other than T, of a liability of a person (“C”) who is or has been connected with T, is to be treated as the provision of a relevant benefit to C.\n(5) “Loan” includes—\n(a) any form of credit;\n(b) a payment that is purported to be made by way of a loan.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Ss. 23A-23H and cross-heading inserted (16.11.2017) (with effect in accordance with s. 35(4) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), s. 35(2)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Ss. 23A-23H modified (16.11.2017) (with application in accordance with Sch. 12 para. 1(2) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 12 para. 1(1) (as amended (22.7.2020) by Finance Act 2020 (c. 14), s. 16(5)(a))"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/5/section/23B",
    "retrieved_at": "2026-10-29T09:16:32.370392+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."
}