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Finance Act 2003
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- UK Public General Acts
- 2003 c. 14
- SCHEDULE 37
- Part 1
- Late interest
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Changes over time for: Cross Heading: Late interest
Version Superseded: 01/04/2009
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- 10/07/2003- Amendment
- 06/04/2005
Point in time - 01/04/2009- Amendment
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Finance Act 2003, Cross Heading: Late interest is up to date with all changes known to be in force on or before 20 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Late interestU.K.
2(1)Paragraph 2 is amended as follows.U.K.
(2)After sub-paragraph (5) insert—
“(5A)A person who is a participator in a company which controls another company shall be treated for the purposes of this paragraph as also being a participator in that other company.”.
(3)In sub-paragraph (6), in the definition of “participator” (which is expressed to have effect in relation to a close company) omit “close”.
(4)The amendments made by this paragraph have effect in relation to interest which would, apart from paragraph 2 of Schedule 9 to the Finance Act 1996 (c. 8), be treated as accruing on or after 9th April 2003.
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