Corporation Tax Act 2009

Finance (No. 2) Act 2005 (c. 22) U.K.

668 U.K. The Finance (No. 2) Act 2005 is amended as follows.

669 U.K. In section 18 (section 17(3): specific powers) for subsection (2)(c) substitute—

“(c) modify the meaning of “relevant holding” for the purposes of—

(i) sections 490 and 492 of the Corporation Tax Act 2009 (loan relationships), and

(ii) section 587 of that Act (derivative contracts).”

F1 670 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Sch. 1 paras. 670, 671 repealed (1.4.2010) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 3 (with Sch. 9 paras. 1-9, 22)

F1 671 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Sch. 1 paras. 670, 671 repealed (1.4.2010) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 3 (with Sch. 9 paras. 1-9, 22)

672 U.K. In section 71 (interpretation) after the definition of “CAA 2001” insert—

“CTA 2009” means the Corporation Tax Act 2009;”.

673 U.K. In Schedule 6 (accounting practice and related matters)—

(a) omit paragraph 7 (loan relationships with embedded derivatives), and

(b) omit paragraph 9 (exchange gains and losses).

674 U.K. In Schedule 7 (avoidance involving financial arrangements) in paragraph 14—

(a) in sub-paragraph (4)(b) after “1996” insert “ or Part 5 of CTA 2009 ”, and

(b) in sub-paragraph (5) after “1996” insert “ and Part 5 of CTA 2009 ”.