Part 3

Income tax, corporation tax and capital gains tax
Chapter 2

Corporation tax: general

Thin capitalisation

Payments of excessive interest etc
34
1
In section 209 of the Taxes Act 1988 (meaning of “distribution”) the following provisions shall cease to have effect—
a
in subsection (2), paragraph (da)
(interest etc in respect of securities where issuing company is 75% subsidiary of holder etc and the interest represents an amount that would not have been paid but for a special relationship etc); and
b
subsections (8A) to (8F)
(application of section 808A(2) to (4) for purposes of paragraph (da) of subsection (2)).
2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 34(4) repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)
S. 34(2)(3) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 2 (with Sch. 9 paras. 1-9, 22)