Part I Corporation Tax
Finance Act 1996 (1996 c 8) | Legislation

SCHEDULE 15 Loan Relationships: Savings and Transitional Provisions

Section 105

Part I Corporation Tax

Application and interpretation of Part I

1

(1)     This Part of this Schedule has effect for the purposes of corporation tax.

(2)     In this Part of this Schedule—

“the 1992 Act†means the Taxation of Chargeable Gains Act 1992;

“continuing loan relationshipâ€, in relation to any company, means any loan relationship to which the company was a party both immediately before and on 1st April 1996;

“first relevant accounting periodâ€, in relation to a company, means the first accounting period of the company to end after 31st March 1996; and

“transitional accounting periodâ€, in relation to a company, means any accounting period of the company beginning before and ending on or after 1st April 1996.

(3)     .Ìý.Ìý.

(4)     In this Part of this Schedule references to this Chapter include references to any repeals having effect for the purposes of this Chapter.

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Adjustments in respect of pre-commencement trading relationships

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(1)     This paragraph applies in the case of any continuing

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