SCHEDULES
SCHEDULE 2Transitionals and savings
Part 9Relationships treated as loan relationships
F1Relevant non-lending relationships: discounts on disposals before 22 March 2006
Annotations:
Amendments (Textual)
72A
1
Section 480 (relevant non-lending relationships involving discounts) applies with the modifications set out in sub-paragraph (2) if—
a
the money debt mentioned in section 480(1) is some or all of the consideration payable for a disposal of property, and
b
the disposal is made before 22 March 2006.
2
The modifications are—
a
in section 480(1)(e) for “conditions A and B are met” substitute “the property is neither—
i
an asset representing a loan relationship, nor
ii
a derivative contract”, and
b
omit subsections (2) to (4).
Sch. 2 para. 72A inserted (retrospective and with effect in accordance with art. 1(2) of the amending S.I.) by Corporation Tax Act 2009 (Amendment) Order 2010 (S.I. 2010/614), arts. 1(1), 3(5)