SCHEDULES
SCHEDULE 4 Withdrawal of relief for interest on loans to buy land etc.
Amendments of Part IX of the Taxes Act 1988
5
1
Section 370 of the Taxes Act 1988 (meaning of “relevant loan interest”) is amended as follows.
2
In subsection (1)—
a
for “sections 372” substitute “
sections 373
”
; and
b
omit the words “or (3)”.
3
In subsection (2), omit the words “354(1) or”, “356A, 357 or”, and paragraph (c) and the word “and” immediately before it.
4
Omit subsections (3), (4), (6) and (7).
5
In subsection (5), for the words from “sections” to “each” substitute “
section 365 shall
”
.