Chapter IIU.K. Loan relationships
Modifications etc. (not altering text)
Introductory provisionsU.K.
80 Taxation of loan relationships.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
81 Meaning of “loan relationship” etc.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Taxation of profits and gains and relief for deficitsU.K.
82 Method of bringing amounts into account.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
83 Non-trading deficit on loan relationships.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Computational provisions etc.U.K.
84 Debits and credits brought into account.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
84A Exchange gains and losses from loan relationshipsU.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
85AComputation in accordance with generally accepted accounting practiceU.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
85BAmounts recognised in determining company’s profit or lossU.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
85CAmounts not fully recognised for accounting purposesU.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
87 Accounting method where parties have a connection.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
87A Meaning of “control” in section 87U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
88 Exemption from section 87 in certain cases.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
88A Accounting method where rate of interest is resetU.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
89 Inconsistent application of accounting methods.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
90 Changes of accounting method.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
90AChange of accounting basis applicable to assets or liabilitiesU.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
91 Payments subject to deduction of tax.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[Shares treated as loan relationships]U.K.
[91A]Shares subject to outstanding third party obligationsU.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
91BNon-qualifying sharesU.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
91CCondition 1 for section 91B(6)(b)U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
91DCondition 2 for section 91B(6)(b)U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
91ECondition 3 for section 91B(6)(b)U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
91FPower to add, vary or remove Conditions for section 91B(6)(b)U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
91GShares beginning or ceasing to be subject to section 91A or 91BU.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[Partnerships]U.K.
91HPayments in return for capital contributionU.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
91IChange of partnership sharesU.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Special casesU.K.
92Convertible securities etc: creditor relationshipsU.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
Modifications etc. (not altering text)
92A Convertible securities etc: debtor relationshipsU.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
93 Relationships linked to the value of chargeable assets.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
93A Relationships linked to the value of chargeable assets: guaranteed returnsU.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
93B Loan relationships ceasing to be within section 93U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
93CCreditor relationships and benefit derived by connected personsU.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
94 Indexed gilt-edged securities.U.K.
[. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
Modifications etc. (not altering text)
94ALoan relationships with embedded derivativesU.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
94BLoan relationships treated differently by connected debtor and creditorU.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
95 Gilt strips.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
96 Special rules for certain other gilts.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
97 Manufactured interest.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
98 Collective investment schemes.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
99 Insurance companies.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Miscellaneous other provisionsU.K.
100Money debts etc not arising from the lending of moneyU.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
101 Financial instruments.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
102 Discounted securities: income tax provisions.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
SupplementalU.K.
103 Interpretation of Chapter.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
104 Minor and consequential amendments.U.K.
Schedule 14 to this Act (which, for the purposes of both corporation tax and income tax, makes certain minor and consequential amendments in connection with the provisions of this Chapter) shall have effect.
105 Commencement and transitional provisions.U.K.
(1)Subject to Schedule 15 to this Act, this Chapter has effect—
(a)for the purposes of corporation tax, in relation to accounting periods ending after 31st March 1996; and
(b)so far as it makes provision for the purposes of income tax, in relation to the year 1996-97 and subsequent years of assessment.
(2)Schedule 15 to this Act (which contains transitional provisions and savings in connection with the coming into force of this Chapter) shall have effect.