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Corporation Tax Act 2009
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352Disregard of related transactions
This section has no associated Explanatory Notes
(1)This section applies in an accounting period if—
(a)section 349 applies in respect of a creditor relationship of a company for the period, and
(b)a related transaction takes place in relation to the relationship in the period.
(2)The credits brought into account in respect of the relationship for the period for the purposes of this Part must not be less than they would have been if—
(a)the transaction had not taken place, and
(b)no amounts had accrued after the transaction took place.
(3)The debits brought into account in respect of the loan relationship for the period for the purposes of this Part must not be more than they would have been in that case.
(4)Nothing in this section affects the credits or debits to be brought into account for the purposes of this Part in respect of exchange gains or losses arising from a debt.
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