Part 4 Loans etc Outstanding on 5 April 2019
Finance Act 2018 (2018 c 3) | Legislation

Part 4 Loans etc Outstanding on 5 April 2019

Information requirement

9

Schedule 11 to F(No 2)A 2017 (employment income provided through third parties: loans etc outstanding on 5 April 2019) is amended in accordance with this Part.

10

After paragraph 35 insert—

“Part 3A
Duty to Provide Loan Charge Information to HMRC

Duty to provide loan charge information

35A

(1)     Paragraphs 35B and 35C apply if one of the following conditions is met.

(2)     The first condition is that—

(a)     a person (“Pâ€) is treated as taking a relevant step within paragraph 1 immediately before the end of 5 April 2019, and

(b)     Chapter 2 of Part 7A of ITEPA 2003 applies by reason of that relevant step.

(3)     The second condition is that—

(a)     a person (“Qâ€) has made a loan which is an approved fixed term loan on 5 April 2019,

(b)     if that day were the approved repayment date in relation to the loan—

(i)     Q would be treated as taking a relevant step within paragraph 1 immediately before the end of that day, and

(ii)     Chapter 2 of Part 7A of ITEPA 2003 would apply by reason of that

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