Version Superseded: 01/04/2009
Point in time view as at 01/04/2006.
There are currently no known outstanding effects for the Finance Act 2004, Paragraph 30.
30U.K.In paragraph 11 (transactions not at arm’s length), for sub-paragraph (1) substitute—
“(1)Where—
(a)debits or credits in respect of a loan relationship of a company fall to be brought into account for the purposes of this Chapter in respect of a related transaction, and
(b)that transaction is not a transaction at arm’s length,
the debits or credits to be brought into account shall be determined on the assumption that the transaction was entered into on the terms on which it would have been entered into between independent persons.
This is subject to the exceptions in sub-paragraphs (1A), (2), (3) and (3A).”.
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