187 Aggregation of loans by close company to director
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

187  Aggregation of loans by close company to director

(1)     This section applies where, in relation to any tax year, there are employment-related loans between the same lender and borrower which are aggregable with each other.

(2)     The lender may elect for aggregation to apply for that tax year in the case of the borrower.

(3)     The effect of the election is

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