SCHEDULES

SCHEDULE 15 U.K. Tax treatment of financing costs and income

Modifications etc. (not altering text)

C1 Sch. 15 modified (21.7.2009 retrospective) by Finance (No. 3) Act 2010 (c. 33), Sch. 5 para. 36(2)

Part 7 U.K. “Financing expense amount” and “financing income amount”

Stranded deficits in non-trading loan relationships: financing income U.K.

64 (1) This paragraph applies where— U.K.

(a) under paragraph 63, the relevant amount is treated is not being a financing expense amount of company A, and

(b) apart from this paragraph, the relevant amount is a financing income amount of company B by virtue of meeting condition A in paragraph 55.

(2) The relevant amount is treated as not being a financing income amount of company B.

(3) In this paragraph “company A” and “company B” have the same meanings as in paragraph 63.