SCHEDULES

SCHEDULE 15 Loan relationships: savings and transitional provisions

Part I Corporation tax

Application of accruals basis to pre-commencement relationships

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Subject to the following provisions of this Schedule, any question for the purposes of this Chapter as to the amounts which are to be treated (in accordance with an authorised accruals basis of accounting) as accruing to a company on or after 1st April 1996 shall be determined by applying that basis of accounting for determining, first, what amounts had accrued before that date.