375 Loans to close companies by participators etc
Corporation Tax Act 2009 (2009 c 4) | Legislation

375  Loans to close companies by participators etc

(1)     The case to which this section applies is where—

(a)     there is a time in the actual accrual period when the close company conditions are met, and

(b)     neither the CIS-based close company conditions nor the CIS limited partnership conditions are met

[and, where subsection (4A) applies, the non-qualifying territory condition is met].

(2)     The close company conditions are that—

(a)     the company which has the debtor relationship (“D”) is a close company, and

(b)

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