SCHEDULES
SCHEDULE 14 Loan relationships: minor and consequential amendments
The Taxes Act 1988
14
1
In subsection (2)(b) of section 337 of that Act (deduction of yearly interest etc. in computing income), for “yearly interest, annuity or other annual payment” there shall be substituted “
annuity or other annual payment which is not interest
”
.
2
Subsection (3) of that section (deduction of yearly interest payable to a bank) shall cease to have effect.