(a) In this section -
"employee", in relation to an employer, means an individual employed by the employer in an employment - (a) to which Chapter 3 of this Part applies, or (b) the profits or gains of which are chargeable to tax under Case III of Schedule D including, in a case where the employer is a body corporate, a director (within the meaning of that Chapter) of the body corporate;
"employer", in relation to an individual, means - (i) a person of whom the individual or the spouse or civil partner of the individual is or was an employee (ii) a person of whom the individual becomes an employee subsequent to the making of a loan by the person to the individual, and while any part of the loan, or of another loan replacing it, is outstanding, or (iii) a person connected with a person referred to in paragraph (i) or (ii);
"loan" includes any form of credit, and references to a loan include references to any other loan applied directly or indirectly towards the rep
…