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Finance Act 1996
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96Special rules for certain other gilts
(1)This section applies as respects any loan relationship of a company if—
(a)it is represented by a security of any of the following descriptions—
(i)3½% Funding Stock 1999-2004; or
(ii)5½% Treasury Stock 2008-2012;
and
(b)it is one to which the company is a party otherwise than in the course of activities that form an integral part of a trade carried on by the company.
(2)The amounts falling for any accounting period to be brought into account for the purposes of this Chapter in respect of a loan relationship to which this section applies shall be confined to amounts relating to interest.
(3)Only an authorised accruals basis of accounting shall be used for ascertaining those amounts.
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