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Modifications etc. (not altering text)
C1Sch. 5 modified (22.7.2020) by Finance Act 2020 (c. 14), Sch. 6 para. 10
15(1)Section 301 (calculation of non-trading profits and deficits from loan relationships: non-trading credits and debits) is amended as follows.U.K.
(2)In subsection (1) for “as follows” substitute “ in accordance with subsections (4) to (7) ”.
(3)After subsection (1) insert—
“(1A)But in the case of a non-UK resident company the only non-trading credits and non-trading debits to be used are those in respect of loan relationships that the company is a party to for a purpose mentioned in section 5(3A)(b) or (3B)(b).”
Commencement Information
I1Sch. 5 para. 15 in force at 6.4.2020, see Sch. 5 para. 35