392 Loan to buy interest in close company [etc]
Income Tax Act 2007 (2007 c 3) | Legislation

Loans for interests in close companies [etc]

392  Loan to buy interest in close company [etc]

(1)     This section applies to a loan to an individual that is used in one or more of the ways specified in subsection (2).

(2)     The ways are—

(a)     acquiring any part of the ordinary share capital of a close company that is not a close investment-holding company,

(b)     lending to such a company money which is used wholly and exclusively—

(i)     for the purposes of the business of the company, or

(ii)     for

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