PART 1

Income tax, corporation tax and capital gains tax
CHAPTER 3

Corporation tax: general

De-grouping charges (loan relationships etc)
28
1
CTA 2009 is amended as follows.
2
In each of sections 345 and 346 (loan relationships: transferee leaving group)—
a
in subsection (2), omit “If condition A or B is met,”, and
b
omit subsections (3) to (5).
3
In each of sections 631 and 632 (derivative contracts: transferee leaving group)—
a
in subsection (2), omit “If condition A or B is met,”, and
b
omit subsections (3) and (4).
4
An amendment made by this section has effect where the cessation of membership of the relevant group occurs on or after 1 April 2014.