Finance Act 2002 (c. 23)

SCHEDULES

SCHEDULE 25 U.K. Loan relationships

Part 2 U.K. Amendments of other enactments

The Taxes Act 1988 U.K.

Building society shares: incidental costs of issuing qualifying shares U.K.

48 In section 477B, after subsection (1) (which allows deduction of such costs) insert—

“(1A) A deduction shall not be allowed by virtue of subsection (1) above to the extent that the costs in question fall to be brought into account as debits for the purposes of Chapter 2 of Part 4 of the Finance Act 1996 (loan relationships).”.