# Income Tax (Trading and Other Income) Act 2005, Section 639: Loans to participators in close companies


(1) This section applies if any amount has been included in a person's income under Chapter 6 of Part 4 (release of loan to participator in close company) in respect of any loan or advance.
(2) There is a corresponding reduction in the amount (if any) afterwards falling to be so included under section 633 in respect of the loan or advance.

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Source: https://www.legislation.gov.uk/ukpga/2005/5/section/639 (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-639
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.