{
  "url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-420",
  "json_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-420.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/420",
  "kind": "section",
  "number": "420",
  "heading": "Loans and advances to trustees of trusts that have ended",
  "text": "(1) This section applies if—\n(a) a loan or advance is made to trustees of a trust,\n(b) a company is or was chargeable to tax under section 455 of CTA 2010 (charge to tax in case of loan to participator) in respect of the loan or advance, and\n(c) after the trust has ended the company releases or writes off the whole or part of the debt in respect of the loan or advance.\n(2) Tax is charged under this Chapter on the person from whom the debt is due at the time of release or writing off.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 420(1)(b) substituted (1.4.2010) (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 464 (with Sch. 2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/5/section/420",
    "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."
}