Section 417 Person liable
United Kingdom
F1(1)
The person liable for any tax charged under this Chapter is—
(a)
in the case of a loan or advance made to a partnership, any partner who is an individual, and
(b)
in any other case, the person to whom the loan or advance was made.
(1A)
If more than one person is liable in a case within subsection (1)(a), the liability is to be apportioned between them in a just and reasonable manner.
(2)
This is subject to—
section 419 (loans and advances to persons who die), and
section 420 (loans and advances to trustees of trusts that have ended).
Annotations
Textual amendments
- F1
S. 417(1)(1A) substituted for s. 417(1) (with effect in accordance with Sch. 30 para. 14(2) of the amending Act) by Finance Act 2013 (c. 29), Sch. 30 para. 14(1)