Search Legislation

Finance Act 2005

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Paragraph 13

 Help about opening options

Version Superseded: 01/04/2009

Alternative versions:

Status:

Point in time view as at 10/07/2008.

Changes to legislation:

There are currently no known outstanding effects for the Finance Act 2005, Paragraph 13. Help about Changes to Legislation

13(1)Paragraph 6 of Schedule 9 to FA 1996 (impairment losses where parties have a connection) is amended as follows.U.K.

(2)In sub-paragraph (2) for “sub-paragraphs (3) to (6) and paragraphs 6A and 6B” substitute “ sub-paragraph (3) (and the provisions mentioned there) and sub-paragraph (6) ”.

(3)In sub-paragraph (3) for paragraphs (a) to (c) substitute—

(a)sub-paragraph (4) below, or

(b)paragraph 6A..

(4)For sub-paragraphs (6) and (7) substitute—

(6)Where in any period a related transaction takes place in relation to the loan relationship—

(a)the debits brought into account for that period in respect of the relationship must not be more than they would have been if the transaction had not taken place, and

(b)the credits brought into account for that period in respect of the relationship must not be less than they would have been if the transaction had not taken place.

(7)In determining for the purposes of sub-paragraph (6) the debits and credits that would have been brought into account if the related transaction had not taken place, no account shall be taken of any amounts that would have accrued at times after the transaction took place..

(5)The amendments in this paragraph have effect in relation to any related transaction taking place on or after 2nd December 2004.

Back to top

Options/Help

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?