# Income Tax (Trading and Other Income) Act 2005, Section 23B: Meaning of “relevant benefit”


(1) The following provisions apply for the purposes of this group of sections.
(2) “Relevant benefit” means any payment (including a payment by way of a loan), a transfer of money's worth, or any other benefit.
(3) The assumption of a liability of T by another person is to be treated as the provision of a relevant benefit to T.
(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.
(5) “Loan” includes—
(a) any form of credit;
(b) a payment that is purported to be made by way of a loan.

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Source: https://www.legislation.gov.uk/ukpga/2005/5/section/23B (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-23B
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.