Part 1 Amendments to F(No 2)A 2017 in Consequence of section 15
Finance Act 2020 (2020 c 14) | Legislation

SCHEDULE 2 The Loan Charge: Consequential Amendments

Sections 15 and 16

Part 1 Amendments to F(No 2)A 2017 in Consequence of section 15

1

Schedule 11 to F(No 2)A 2017 (employment income provided through third parties: loans etc outstanding on 5 April 2019) is amended as follows.

2

In paragraph 1 (application of Part 7A of ITEPA 2003: relevant step) in sub-paragraph (2) for the words from “before” to the end substitute “before the end of 5 April 2019.”

3

For the italic heading before paragraph 2 substitute “Meaning of “loan” and “quasi loan””.

4

In paragraph 2 (meaning of “loan”, “quasi-loan” and “approved repayment date”) omit sub-paragraph (6).

5

(1)     Paragraph 4 (when an amount of a loan is outstanding: certain repayments to be disregarded) is amended as follows.

(2)     In sub-paragraph (1)(b)(ii) for “the relevant date” substitute “5 April 2019”.

(3)

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