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HMRC internal manual

Employment Income Manual

Para 37: loan charge relevant step: interaction with employment related loans

Schedule 11 F(No 2)A 2017

Where a third party is treated as taking a loan charge relevant step and the loan is also an employment related loan, the loan charge provisions prevent that loan being treated as a taxable cheap loan for the purposes of the beneficial loan legislation at Chapter 7 Pt 3 ITEPA 2003.