[F151ACash basis: interest payments on loansU.K.
This section has no associated Explanatory Notes
(1)In calculating the profits of a trade on the cash basis, no deduction is allowed for the interest paid on a loan.
(2)This is subject to section 57B.]
Textual Amendments
F1S. 51A inserted (with effect in accordance with Sch. 4 paras. 56, 57 of the amending Act) by Finance Act 2013 (c. 29), Sch. 4 para. 10