Part 8 – Loan Relationships (paras 53-71)

Contents

53. Interpretation Section commentary
54. Opening and closing values determined under Schedule 15 to the Finance Act 1996 Section commentary
55. References to Part 5 to include Schedule 15 to FA 1996 Section commentary
56. Exemption for interest on tax overpaid for accounting periods ending before 1 July 1999 Section commentary
57. Regulations under section 81 of FA 2002 Section commentary
58. Continuity on transfers: transferees becoming party to loan relationship before 9 April 2003 Section commentary
59-60. Deeply discounted securities held before 1 October 2002 Section commentary
61. Restriction on bringing into account credits resulting from reversal of debits disallowed in a period of account beginning before 1 January 2005 Section commentary
62. Disregard of pre-2005 disallowed debits Section commentary
63. Bringing into account losses on overseas sovereign debt etc. Section commentary
64. Saving for old elections for treating loan relationships with embedded derivatives as two assets Section commentary
65. Deeply discounted securities of close companies: discounts for accounting periods beginning before 1 April 2007 Section commentary
66. Repo, stock lending and other transactions before 1 October 2007: disapplication of section 332 Section commentary
67. Avoidance relying on continuity of treatment provisions: transactions before 16 May 2008 Section commentary
68. Disposals for consideration not fully recognised by accounting practice: disposals before 16 May 2008 Section commentary
69. 5½% Treasury Stock 2008-2012 not redeemed before 6 April 2009 Section commentary
70. References to Companies Act 2006 Section commentary
71. Prospective repeal of provisions concerning exchange gains and losses from loan relationships Section commentary

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