SCHEDULES

SCHEDULE 20Taxation of hybrid capital instruments

PART 2Corporation tax, income tax and capital gains tax

Consequential amendments

7

1

Part 5 of CTA 2009 (loan relationships) is amended as follows.

2

In section 398 (overview of Chapter 12), in subsection (2)—

a

omit the “and” at the end of paragraph (d), and

b

after paragraph (e) insert

, and

f

section 420A (hybrid capital instruments).

3

In section 465(3) (provisions preventing amounts from being distributions), before paragraph (za) insert—

zza

section 420A(2) (hybrid capital instruments),