PART XVII TAX AVOIDANCE
F12CHAPTER ICANCELLATION OF F13CORPORATION TAX ADVANTAGES FROM CERTAIN TRANSACTIONS IN SECURITIES
Words in Pt. 17 Ch. 1 heading substituted (6.4.2007 with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 153 (with Sch. 2)
703 Cancellation of F1corporation tax advantage.
F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
704 The prescribed circumstances.
F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
705 Appeals against Board’s notices under section 703.
F4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
705AF14 Statement of case by tribunal for opinion of High Court.
F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
705B Proceedings in Northern Ireland.
F6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
706 The tribunal.
F7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
707 Procedure for clearance in advance.
F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
708 Power to obtain information.
F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
709 Meaning of F10“corporation tax advantage” and other expressions.
F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER II TRANSFERS OF SECURITIES
Transfers with or without accrued interest: introductory
710 Meaning of “securities”, “transfer” etc. for purposes of sections 711 to 728.
F15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
711 Meaning of “interest”, “transfers with or without accrued interest” etc.
F16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
712 Meaning of “settlement day” for purposes of sections 711 to 728.
F17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Transfers with or without accrued interest: charge to tax and reliefs
713 Deemed sums and reliefs.
F18. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
714 Treatment of deemed sums and reliefs.
F19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
715 Exceptions from sections 713 and 714
F20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
716 Transfer of unrealised interest.
F21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
717 Variable interest rate.
F22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
718 Interest in default.
F23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
719 Unrealised interest in default
F24. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Transfers with or without accrued interest: supplemental
720 Nominees, trustees etc.
F25. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
721 Death.
F26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
722 Trading stock.
F27. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
722AF38 Gilt strips: deemed transfer.
F28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
723 Foreign securities: delayed remittances
F29. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
724 Insurance companies.
F30. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F31725. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F32726. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F33726A New issues of securities.
F34. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
727 Stock lending.
F35. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
727AF39 Exception for sale and repurchase of securities.
F36. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
728 Information.
F37. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Other transfers of securities
729 Sale and repurchase of securities.
F40. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
730F41Transfers of rights to receive distributions in respect of shares
F42. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
730AF47 Treatment of price differential on sale and repurchase of securities.
F43. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
730B Interpretation of section 730A.
F44. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
730BBF48Exchange gains and losses on sale and repurchase of securities
F45. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
730CF49 Exchanges of gilts: traders etc.
F46. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Purchase and sale of securities
731 Application and interpretation of sections 732 to 734.
F50. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
732 Dealers in securities.
F51. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
733 Persons entitled to exemptions.
F52. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
734 Persons other than dealers in securities.
F53. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
735 Meaning of “appropriate amount in respect of” interest.
F54. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Miscellaneous provisions relating to securities
736 Company dealing in securities: distribution materially reducing value of holding.
F55. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F56736A Manufactured dividends and interest.
F57. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
736BF65 Deemed manufactured payments in the case of stock lending arrangements.
F58. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
736CF66Deemed interest: cash collateral under stock lending arrangements
F59. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
736DF67Quasi-stock lending arrangements and quasi-cash collateral
F60. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
737 Manufactured dividends: treatment of tax deducted.
F61. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
737AF68 Sale and repurchase of securities: deemed manufactured payments.
F62. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
737B Interpretation of section 737A.
F63. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
737C Deemed manufactured payments: further provisions.
F64. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Supplemental
737DF74 Power to provide for manufactured payments to be eligible for relief.
F69. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
737EF70Power to modify sections F71. . . 730A, 730BB and 737A to 737C
F72. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
738 Power to amend sections 732, 735 and 737.
F73. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER III TRANSFER OF ASSETS ABROAD
739 Prevention of avoidance of income tax.
F75. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
740 Liability of non-transferors.
F76. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
741F77Exemption from sections 739 and 740 (transactions before 5th December 2005)
F78. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
741AF89Exemption from sections 739 and 740 (transactions on or after 5th December 2005)
F79. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
741BF90Application of sections 741 and 741A
F80. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
741CCases where there are both old transactions and new transactions
F81. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
741DF91Section 739: just and reasonable apportionment in certain cases
F82. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
742F83Interpretation of this Chapter
F84. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
743 Supplemental provisions.
F85. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
744 No duplication of charge.
F86. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
745 Power to obtain information.
F87. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
746 Persons resident in the Republic of Ireland.
F88. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F127CHAPTER IV CONTROLLED FOREIGN COMPANIES
Pt. 17 Ch. 4 (ss. 747-756) omitted (with effect in accordance with Sch. 20 paras. 49, 50 of the repealing Act) by virtue of Finance Act 2012 (c. 14), Sch. 20 para. 14
747 Imputation of chargeable profits and creditable tax of controlled foreign companies
F92. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
747AF128 Special rule for computing chargeable profits.
F93. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
748F94Cases where section 747(3) does not apply.
F95. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
748ZAF129Exclusion of small profits exemptions
F96. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
748AF130Territorial exclusions from exemption under section 748
F97. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
749F98 Residence.
F99. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
749AF131 Elections and designations under section 749: supplementary provisions.
F100. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
749B Interests in companies.
F101. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
750 Territories with a lower level of taxation.
F102. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
750AF132 Deemed lower level of taxation: designer rate tax provisions.
F103. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
751 Accounting periods and creditable tax
F104. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
751AF133Reduction in chargeable profits for certain activities of EEA business establishments
F105. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
751AAF134Reduction in chargeable profits for certain financing income
F106. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
751ABF135Reduction in chargeable profits: failure to qualify for exemptions
F107. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
751ACF136Reduction in chargeable profits following an exempt period
F108. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
751BF109Sections 751A F110to 751AC: supplementary
F111. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
752F112 Apportionment of chargeable profits and creditable tax
F113. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
752AF137 Relevant interests.
F114. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
752B Section 752(3): the percentage of shares which a relevant interest represents.
F115. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
752C Interpretation of apportionment provisions.
F116. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
753 Notices and appeals.
F117. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
754 Assessment, recovery and postponement of tax.
F118. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
754AF138 Returns where it is not established whether acceptable distribution policy applies.
F119. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
754BF139 Determinations requiring the sanction of the Board.
F120. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
755 Information relating to controlled foreign companies
F121. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
755AF140 Treatment of chargeable profits and creditable tax apportioned to company carrying on life assurance business.
F122. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
755BF141 Amendment of return where general insurance business of foreign company accounted for on non-annual basis.
F123. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
755CF142 Application of Chapter where general insurance business of foreign company accounted for on non-annual basis.
F124. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
755DF143“Control" and the two “40 per cent" tests.
F125. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
756 Interpretation and construction of Chapter IV.
F126. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F160CHAPTER V OFFSHORE FUNDS
Pt. 17 Ch. 5 (ss. 756A-763) repealed (1.12.2009 with effect in accordance with reg. 1(2) of the repealing S.I.) by The Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001), regs. 1(1), 13(2)(3), Sch. 2 (with Sch. 1)
F161Meaning of offshore fund
Ss. 756A-756C and preceding cross-headings inserted (with effect in accordance with s. 145(2) of the amending Act) by Finance Act 2004 (c. 12), Sch. 26 para. 3 (with Sch. 26 para. 17)
756AGeneral definition of offshore fund
F144. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Treatment of umbrella funds
756BTreatment of umbrella funds
F145. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Treatment of funds comprising more than one class of interest
756CTreatment of funds comprising more than one class of interest
F146. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Material interests in non-qualifying offshore funds
757 Disposal of material interests in non-qualifying offshore funds
F147. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
758 Offshore funds operating equalisation arrangements
F148. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
759 Material interests in offshore funds
F149. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
760 Non-qualifying offshore funds
F150. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Charge to tax of offshore income gains
761 Charge to income tax or corporation tax of offshore income gain.
F151. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
762 Offshore income gains accruing to persons resident or domiciled abroad.
F152. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
762ZAF158Offshore income gains: application of transfer of assets abroad provisions
F153. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
762ZBIncome treated as arising under section 761(1): remittance basis
F154. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
762AF159Exchange of interests of different classes
F155. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
763 Deduction of offshore income gain in determining capital gain.
F156. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
764 Offshore income gains of trustees.
F157. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER VI MISCELLANEOUS
Migration etc. of company
765 Migration etc. of companies.
F162. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F163765A Movements of capital between residents of member States.
F164. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
766 Offences under section 765.
F165. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
767 Interpretation and commencement of sections 765 and 766.
F166. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Change in ownership of company
767AF180 Change in company ownership: corporation tax.
F167. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
767AAF181 Change in company ownership: postponed corporation tax.
F168. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
767B Change of company ownership: supplementary.
F169. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
767CF182 Change in company ownership: information.
F170. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
768 Change in ownership of company: disallowance of trading losses.
F171. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F172768A Change in ownership: disallowance of carry back of trading losses.
F173. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
768BF183F174Change in ownership of company with investment business: deductions generally
F175. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
768C Deductions: asset transferred within group.
F176. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
768DF184 Change in ownership of company carrying on property business.
F177. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
768EF185 Change in ownership of company with unused non-trading loss on intangible fixed assets
F178. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
769 Rules for ascertaining change in ownership of company.
F179. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Transactions between associated persons
770AF187 Provision not at arm’s length.
F186. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F187770 Sales etc. at an undervalue or overvalue.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F187771Transactions by petroleum companies.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F187772 Information for purposes of section 770, and appeals.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F187773 Interpretation of sections 770 and 771.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
774 Transactions between dealing company and associated company.
M11
Subject to the provisions of this section, where—
a
a dealing company becomes entitled to a deduction, in computing the profits or gains of the company for tax purposes for any period, in respect of the depreciation in the value of any right subsisting against an associated company, being a non-dealing company; or
b
a dealing company makes any payment to such an associated company, being a payment in respect of which the dealing company is entitled to a deduction in computing its profits or gains for tax purposes for any period;
and the depreciation or payment is not brought into account in computing the profits or gains of the non-dealing company, that company shall be deemed to have received on the last day of the period income of an amount equal to the amount of the deduction and shall be chargeable F222to tax in respect thereof F223(in the case of corporation tax, under F224the charge to corporation tax on income).
2
Where the non-dealing company is carrying on a trade, the income referred to in subsection (1) above shall, if the company so elects, not be so chargeable but shall be deemed to have been a receipt of the trade, or, if the company is carrying on more than one trade, to have been a receipt of such one of the trades as the company may choose.
3
Where the non-dealing company is carrying on, or was formed to carry on a trade, then if—
a
either—
i
the right subsisting against it was a right to the repayment of moneys lent for meeting expenditure which has proved (in whole or in part) abortive, or
ii
the payment to the company was made for meeting such expenditure, and
b
that expenditure is such that the company is not entitled in respect of it to any allowance or deduction in computing losses or gains,
subsection (1) above shall not apply in so far as the expenditure proved abortive.
4
For the purposes of this section—
a
“company” includes any body corporate;
b
“dealing company” means a company dealing in securities, land or buildings and includes any company whose profits on the sale of securities, land or buildings are part of its trading profits;
c
“non-dealing company” means any company which is not a dealing company;
d
two or more companies shall be treated as associated companies if one has control of the other or others, or any person has control of both or all of them;
e
references to a company (“the first company”) having control of another company (“the second company”) shall be construed as references to the first company having control of the second company either by itself or in conjunction with any person having control over the first company, and “control” has the meaning given by F226section 1124 of CTA 2010;
f
“securities” includes shares and stock.
5
F225. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F221Factoring of income receipts etc
Ss. 774A-774G and preceding cross-heading inserted (with effect in accordance with Sch. 6 para. 6(2)-(7) of the amending Act) by Finance Act 2006 (c. 25), Sch. 6 para. 6(1)
774AMeaning of “structured finance arrangement” for purposes of s.774B
F188. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
774BDisregard of intended effects of arrangement involving disposals of assets
F189. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
774CMeaning of “structured finance arrangement” for purposes of s.774D
F190. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
774DDisregard of intended effects of arrangement involving change in relation to a partnership
F191. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
774ESections 774B and 774D: exceptions
F192. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
774FSections 774B and 774D: power to provide further exceptions
F193. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
774GSections 774A to 774D: minor definitions etc
F194. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Other provisions
775 Sale by individual of income derived from his personal activities.
F195. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
775AF217Transfers of rights to receive annual payments
F196. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
776 Transactions in land: taxation of capital gains.
F197. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
777 Provisions supplementary to F198section 776.
F199. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
778 Power to obtain information.
F200. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
779 Sale and leaseback: limitation on tax reliefs.
F201. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
780 Sale and leaseback: taxation of consideration received.
F202. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
781 Assets leased to traders and others.
F203. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
782 Leased assets: special cases.
F204. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
783 Leased assets: supplemental.
F205. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
784 Leased assets subject to hire-purchase agreements.
F206. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
785 Meaning of “asset”, “capital sum” and “lease” for purposes of sections 781 to 784.
F207. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
785ZAF218Restrictions on use of losses: leasing partnerships
F208. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
785ZBSection 785ZA: definitions
F209. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
785AF219Rent factoring of leases of plant or machinery
F210. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
785BF220Plant and machinery leases: capital receipts to be treated as income
F211. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
785CSection 785B: interpretation
F212. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
785DSection 785B: lease of plant and machinery and other property
F213. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
785ESection 785B: expectation that relevant capital payment will not be paid
F214. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
786 Transactions associated with loans or credit.
F215. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
787 Restriction of relief for payments of interest.
F216. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Pt. 17 Ch. 1 (ss. 703-709) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 94, Sch. 3 Pt. 1 (with Sch. 2)