Part 3Income tax, corporation tax and capital gains tax
Chapter 2Corporation tax: general
Thin capitalisation
34Payments of excessive interest etc
1
In section 209 of the Taxes Act 1988 (meaning of “distribution”) the following provisions shall cease to have effect—
a
in subsection (2), paragraph (da) (interest etc in respect of securities where issuing company is 75% subsidiary of holder etc and the interest represents an amount that would not have been paid but for a special relationship etc); and
b
subsections (8A) to (8F) (application of section 808A(2) to (4) for purposes of paragraph (da) of subsection (2)).
F22
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F23
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F14
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