[175A Optional remuneration arrangements: “relevant amount” and “modified cash equivalent”]
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

[175A  Optional remuneration arrangements: “relevant amount” and “modified cash equivalent”]

[(1)     In section 175(1A) “the relevant amount”, in relation to a loan the benefit of which is provided pursuant to optional remuneration arrangements, means the difference between—

(a)     the amount foregone (see section 69B) with respect to the benefit of the loan, and

(b)     the amount of interest (if any) actually paid on the loan for the tax

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