318 Change of accounting [basis] following cessation of loan relationship
Corporation Tax Act 2009 (2009 c 4) | Legislation

318  Change of accounting [basis] following cessation of loan relationship

(1)     This section applies if—

(a)     the company has ceased to be a party to a loan relationship in an accounting period (“the cessation period”),

[(b)     section 330A (company is not, or has ceased to be, party to loan relationship) applied to the cessation, and]

(c)     there is a difference between the amount outstanding in respect of the loan relationship (see subsection (5))—

(i)     at the end of the earlier period, and

(ii)     at the beginning of the later period.

[(2)     A credit or debit (as the case may be) of an amount equal

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