SCHEDULES

SCHEDULE 25Loan relationships

Part 2Amendments of other enactments

The Taxation of Chargeable Gains Act 1992

60Interest charged to capital

1

Section 40 of the Taxation of Chargeable Gains Act 1992 (c. 12) is amended as follows.

2

After subsection (3) add—

4

In consequence of Chapter 2 of Part 4 of the Finance Act 1996 (c. 8) (loan relationships) this section does not have effect in relation to interest referable to an accounting period ending on or after 1st April 1996.