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Loan up to £5K caught by S419?

Are loans to Directors and Employees of a close company up to £5K caught by S419 when dealing with the computaion for Corporation Tax.
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Loans to directors
S. 419 ICTA 1988 will apply where a director's current account has a debit balance. Assuming that there is no opening balance, there is now a debit balance of £5,000 in the director's current account. The company must now provide and pay over to the Inland Revenue a (notional) tax of £1,250, which will then be refunded to the company when the £5,000 is repaid to the company by the director. However, there is no need to provide for any notional tax if the director repays the money to the company within 9 months following the accounting period in which the loan was granted.

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