West (Inspector of Taxes) v O’Neill; Same v Crosland: ChD 9 Feb 1999

Where a Building Society employee had a loan on favourable terms unavailable to the public, but switched to a mortgage on a publicly available fixed rate, the new arrangement was not a new loan as such, and did not qualify for tax exemption.

Citations:

Times 09-Feb-1999

Statutes:

Income and Corporation Taxes Act 1988 161(1A)

Jurisdiction:

England and Wales

Income Tax

Updated: 04 June 2022; Ref: scu.90386