SCHEDULES
SCHEDULE 25Loan relationships
Part 1Amendments of the Finance Act 1996
31Debits and credits treated as relating to capital expenditure
1
Paragraph 14 of Schedule 9 is amended as follows.
2
In sub-paragraphs (1) and (2), for “normal accountancy practice”, in each place where occurring, substitute “
generally accepted accounting practice
”
.
3
After sub-paragraph (2) add—
3
No debit may be brought into account by virtue of this paragraph if it is taken into account in arriving at the amount of expenditure in relation to which a debit may be given by Schedule 29 to the Finance Act 2002 (gains and losses of a company from intangible fixed assets).