Modifications etc. (not altering text)
C1Pt. 4 excluded by 2010 c. 4, s. 938N (as inserted (19.7.2011) by Finance Act 2011 (c. 11), Sch. 5 para. 2)
C2Pt. 4 excluded (1.10.2011) by Postal Services Act 2011 (c. 5), s. 93(2)(3), Sch. 2 para. 6(2); S.I. 2011/2329, art. 3
C3Pt. 4 excluded (1.4.2012) by Budget Responsibility and National Audit Act 2011 (c. 4), s. 29, Sch. 4 para. 3(2); S.I. 2011/2576, art. 5
C4Pt. 4 excluded (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 129(11) (with s. 147, Sch. 17)
Modifications etc. (not altering text)
C5Pt. 4 Chs. 1 and 3-6 applied (1.4.2022 in relation to accounting periods beginning on or after that date) by Finance Act 2022 (c. 3), s. 51(1), Sch. 9 paras. 3, 4
(1)Conditions A to E are the pre-conditions for the purposes of section 200.
(2)Condition A is that both of the affected persons are companies.
(3)Condition B is that only one of the affected persons (“the advantaged person”) is a person on whom a potential advantage in relation to United Kingdom taxation is conferred by the actual provision.
(4)Condition C is that the other affected person (“the disadvantaged person”) is within the charge to income tax or corporation tax in respect of profits arising from the relevant activities (see section 216).
(5)Condition D is that the actual provision is provision in relation to a security (the “relevant security”).
(6)Condition E is that the capital market condition is met (see section 204).
(7)In subsections (5) and (8)(a) “security” includes securities not creating or evidencing a charge on assets.
(8)For the purposes of subsection (5), any—
(a)interest payable by a company on money advanced without the issue of a security for the advance, or
(b)other consideration given by a company for the use of money so advanced,
is to be treated as if payable or given in respect of a security issued for the advance by the company, and the reference in subsection (5) to a security is to be read accordingly.