EIM26112 – The benefits code: beneficial
loans: meaning of relative
Section 174(6) ITEPA 2003
Relative is given a special meaning for the purpose of the
charge on beneficial loans or their release or writing off.
Persons defined as relatives include:
- the employee's spouse
- the parents, children and brothers and
sisters of both spouses
- remoter ancestors or descendants of both
spouses, for example, grandparents and grandchildren
- the spouses of all the persons mentioned
above.
This definition is much wider than that used for:
- other benefits of employees within the
benefits code (see
EIM20504)
- benefits obtained by the use of vouchers
or credit-tokens (see
EIM16080)
- sick pay (see
EIM06410).
