383 Lending between partners and the partnership
Corporation Tax Act 2009 (2009 c 4) | Legislation

383  Lending between partners and the partnership

(1)     This section applies if—

(a)     the money debt owed by or to the firm arises from a transaction for the lending of money, and

(b)     there is a time in an accounting period of a company partner (“the relevant accounting period”) when conditions A, B and C are met.

(2)     Condition A is that—

(a)     if the debt is owed by the firm, the company partner stands in the position of a creditor and accordingly

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