EIM45070 - Employment income provided through third parties: relevant steps: Section 554C: sum of money or asset made available

Section 554C(1)(d) ITEPA 2003

In certain circumstances, a relevant third person (P) will take a relevant step within Section 554C(1)(d) if the person makes available a sum of money or asset.

The four circumstances are listed below.

  • P makes available a sum of money or asset for use as security for a loan made (or to be made) to a 바카라 사이트˜relevant person바카라 사이트™ (see EIM45090).

Notice that 바카라 사이트˜relevant third person바카라 사이트™ and 바카라 사이트˜relevant person바카라 사이트™ are different concepts.

  • P makes available a sum of money or asset for use in some other way as security for the meeting of any liability (or the performance of any undertaking) which a relevant person has or will have.
  • P makes a sum of money or asset available under an arrangement which permits its use as security for a loan made (or to be made) to a relevant person.
  • P makes a sum of money or asset available under an arrangement which permits its use in some other way as security for the meeting of any liability (or the performance of any undertaking) which a relevant person has or will have.

It does not matter if:

  • the sum of money or asset is made available informally,
  • the relevant person has no legal right to have the sum of money or asset used as mentioned above, or
  • the sum of money or asset is not actually used as mentioned above.

In Section 554C(1)(d), 바카라 사이트˜makes available바카라 사이트™ means 바카라 사이트˜begins to make available바카라 사이트™ not 바카라 사이트˜continues to make available바카라 사이트™. Section 554C(1)(d) defines a step, not a state.

On 바카라 사이트˜arrangement바카라 사이트™, see EIM45855.

Special rules apply if the asset is made available between 9 December 2010 and 5 April 2011 inclusive. See EIM45915 onwards.