SCHEDULES
SCHEDULE 25Loan relationships
Part 2Amendments of other enactments
The Taxes Act 1988
47Building society shares: regulations for deduction of tax
1
Section 477A(3) (where regulations apply for any year of assessment, dividends or interest to be dealt with for the purposes of corporation tax as there described) is amended as follows.
2
In paragraph (a)
(liability to pay to be treated as a liability arising under a loan relationship) at the beginning insert “
to the extent that it would not otherwise fall to be so regarded,
”
.
3
In paragraph (aa)
(dividends or interest payable to company to be treated as payable in pursuance of right under loan relationship) after “payable to a company,” insert “
then, to the extent that they would not otherwise fall to be so regarded,
”
.