F1Part 10F1Corporate interest restriction
F1CHAPTER 9Cases involving particular types of company or business
Exemption for tax-interest expense or income amounts
458Co-operative and community benefit societies etc
(1)
This section applies where—
(a)
apart from this section, an amount would be a tax-interest expense amount or tax-interest income amount of a company as a result of meeting condition A in section 382 or 385 (loan relationships), and
(b)
the amount meets that condition only because of section 499 of CTA 2009 (certain sums payable by co-operative and community benefit societies or UK agricultural or fishing co-operatives treated as interest under loan relationship).
(2)
The amount is treated as not being a tax-interest expense amount or tax-interest income amount of the company.