C1C4C6C7C8Part 5Loan Relationships
Pt. 5 applied (with modifications) (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 990(5), 1184(1) (with Sch. 2)
Pt. 5 modified (15.11.2011 for specified purposes, 30.3.2012 for E.W.) by Localism Act 2011 (c. 20), ss., 240(5)(o), Sch. 24 para. 5; S.I. 2012/628, art. 3(b)
Pt. 5 modified (1.4.2012) by Budget Responsibility and National Audit Act 2011 (c. 4), s. 29, Sch. 4 para. 2; S.I. 2011/2576, art. 5
C2C3C4C5Chapter 4Continuity of treatment on transfers within groups or on reorganisations
Pt. 5 Ch. 4 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 5
Pt. 5 Ch. 4 modified (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 601, 1184(1) (with Sch. 2)
Pt. 5 Ch. 4 modified (1.10.2011) by Postal Services Act 2011 (c. 5), s. 93(2)(3), Sch. 2 para. 5; S.I. 2011/2329, art. 3
Application of this Chapter
335Introduction to Chapter
1
This Chapter applies in the cases mentioned in—
a
section 336 (transfers of loans on group transactions),
b
section 337 (transfers of loans on insurance business transfers), and
c
section 339 (issues of new securities on certain cross-border reorganisations).
2
The following sections make provision about how the credits and debits to be brought into account under this Part in those cases are determined—
a
sections 340 and 341 (which apply in the cases mentioned in sections 336 and 337), and
b
sections 342 and 343 (which apply in the case mentioned in section 339).
3
Sections 344 to 346 provide for the treatment of a loan relationship in respect of which section 336 has applied where the company replacing another as a party to a loan relationship later leaves the group of companies of which they were members.
4
Section 347 (disapplication of Chapter where transferor party to avoidance involving subsequent transfer by transferee) disapplies this Chapter in some circumstances in the cases mentioned in 336 and 337.
5
For the meaning of references in this Chapter to a company replacing another as a party to a loan relationship, see section 338.
6
In this Chapter references to a company being a member of a group of companies are to be read in accordance with section 170 of TCGA 1992 (interpretation of sections 171 to 181 of that Act: groups).
Pt. 5 applied (with effect in accordance with Sch. 24 paras. 13-16 of the amending Act) by Finance Act 2009 (c. 10), Sch. 24 para. 15(2)(3)