# Corporation Tax Act 2009, Section 302: “Loan relationship”, “creditor relationship”, “debtor relationship”

Extent: E+W+S+N.I.

(1) For the purposes of the Corporation Tax Acts a company has a loan relationship if—
(a) the company stands in the position of a creditor or debtor as respects any money debt (whether by reference to a security or otherwise), and
(b) the debt arises from a transaction for the lending of money.
(2) References to a loan relationship and to a company being a party to a loan relationship are to be read accordingly.
(3) For cases where this Part applies as if a relationship were a loan relationship despite the money debt not arising from a transaction for the lending of money see Chapter 2 of Part 6 (relevant non-lending relationships).
(4) See also the following provisions of Part 6 (under which other matters are treated as loan relationships or rights, payments or profits under loan relationships)—
(a) Chapter 3 (OEICs, unit trusts and offshore funds),
(b) Chapter 4 (building societies),
(c) Chapter 5 (registered societies),
(d) Chapter 6 (alternative finance arrangements),
(e) Chapter 7 (shares with guaranteed returns etc),
(f) Chapter 8 (returns from partnerships),
(g) Chapter 9 (manufactured interest etc),
(h) Chapter 10 (repos), and
(i) Chapter 11 (investment life insurance contracts).
(5) In this Part “creditor relationship”, in relation to a company, means any loan relationship of the company where it stands in the position of a creditor as respects the debt in question.
(6) In this Part “debtor relationship”, in relation to a company, means any loan relationship of the company where it stands in the position of a debtor as respects the debt in question.

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Source: https://www.legislation.gov.uk/ukpga/2009/4/section/302 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2009/section-302
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.