24(1)Amend section 807A of the Taxes Act 1988 (disposals and acquisitions of company loan relationships) as follows.U.K.
(2)In subsection (2) (tax which is to be treated as if it were to be disregarded for certain purposes) in paragraph (b), after “is attributable, on a just and reasonable apportionment," insert “ (i) ” and at the end insert “; or
(ii)to so much of a relevant qualifying payment as, on such an apportionment, is attributable to a time when the company is not a party to the interest rate or currency contract concerned”.
F1(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)This paragraph has effect in relation to accounting periods ending on or after 21st March 2000.
Textual Amendments
F1Sch. 30 para. 24(3) repealed (24.7.2002 with effect as mentioned in Sch. 40 Pt. 3(13) note 2 of the repealing Act) by 2002 c. 23, s. 141, Sch. 40 Pt. 3(13) note 2