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Modifications etc. (not altering text)
C1Pt. 7 excluded by 2010 c. 4, s. 938N (as inserted (19.7.2011) by Finance Act 2011 (c. 11), Sch. 5 para. 2)
(1)This section applies if, apart from this section, an amount (“the relevant amount”) is a financing expense amount of a company because of meeting condition A, B or C in section 313.
(2)The relevant amount is treated as not being a financing expense amount of the company if the creditor is a charity.
(3)In this section—
“charity” means any body of persons or trust established for charitable purposes only, and
“creditor” means—
if the relevant amount is a debit that meets condition A in section 313, the loan creditor who receives the payment in relation to which the relevant amount arises, and
if the relevant amount meets condition B or C in section 313, the recipient of the payment in relation to which the relevant amount arises.