SCHEDULES
SCHEDULE 5Financing costs and income of group companies
Amendments of Chapter 7 (“financing expense amount” and “financing income amount”)
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(1)
Section 314 (financing income amounts of a company) is amended as follows.
(2)
In subsection (1), for “or C” substitute “, C or D”.
(3)
After subsection (5) insert—
“(5A)
Condition D is that the amount is an amount that would, apart from this Part, be brought into account for the purposes of corporation tax in a relevant accounting period of the company in respect of income that—
(a)
is receivable from another company, and
(b)
is in consideration of the provision of a guarantee of any borrowing of that other company.”