18U.K.In section 378 (disallowed tax-interest expense amounts carried forward), in subsections (3) and (6), omit “the later accounting period or”.
19U.K.In section 393(5)(a) (amount of interest allowance for a period that is “available” in a later period), for “is made” substitute “ has effect ”.
20(1)Section 411 (meaning of “relevant expense amount” and “relevant income amount”) is amended as follows.U.K.
(2)In subsection (1)—
(a)in paragraph (b), after “loan relationship” insert “ or related transaction ”, and
(b)in paragraph (h), after “debt factoring” insert “ or any similar transaction ”.
(3)In subsection (2)(f), after “debt factoring” insert “ or any similar transaction ”.
21(1)Section 412 (section 411: interpretation) is amended as follows.U.K.
(2)In subsection (1)—
(a)in the opening words, after “a loan relationship” insert “ or related transaction ”,
(b)after paragraph (a) insert—
“(ab)in entering into or giving effect to, or attempting to enter into or give effect to, the related transaction,”,
(c)in paragraph (b), after “the loan relationship” insert “ or as a result of the related transaction ”, and
(d)in paragraph (c), after “the loan relationship” insert “ or in accordance with the related transaction ”.
(3)In subsection (6)—
(a)in paragraph (a), for “(1)(c)” substitute “ (1)(b) and (c) ”, and
(b)in paragraph (b), for “(1)(e)” substitute “ (1)(e) and (f) ”.