EIM26212 - »Ê¹ÚÌåÓýapp benefits code: beneficial loans: calculation of the cash equivalent: meaning of maximum balance on a day
Section 182 ITEPA 2003
»Ê¹ÚÌåÓýapp maximum amount of a loan outstanding on a particular day is the largest amount owing at any time during that day.
Thus if the loan outstanding at the start of the day is £5,000 and during the day the employee repays the lender £1,000, the maximum outstanding balance on that day is £5,000.