{
  "url": "https://openlegislation.uk/corporation-tax-act-2010/section-705C",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2010/section-705C.json",
  "legislation": "ukpga/2010/4",
  "legislation_title": "Corporation Tax Act 2010",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2010",
  "path": "section/705C",
  "kind": "section",
  "number": "705C",
  "heading": "Restriction on debits to be brought into account",
  "text": "(1) This section has effect for the purpose of restricting the debits to be brought into account for the purposes of Part 5 of CTA 2009 (loan relationships) in respect of the company's loan relationships.\n(2) The debits to be brought into account for the purposes of Part 5 of CTA 2009 for—\n(a) the accounting period beginning immediately after the change in ownership, or\n(b) any subsequent accounting period,\ndo not include relevant non-trading debits so far as amount A exceeds amount B.\n(3) Amount A is the sum of—\n(a) the amount of those relevant non-trading debits, and\n(b) the amount of any relevant non-trading debits which have been brought into account for the purposes of that Part for any previous accounting period ending after the change in ownership.\n(4) Amount B is the amount of the taxable total profits of the accounting period ending with the change in ownership.\n(5) For the meaning of “relevant non-trading debit”, see section 730.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 14 Ch. 5A inserted (with effect in accordance with Sch. 13 para. 3 of the amending Act) by Finance Act 2013 (c. 29), Sch. 13 para. 1(3)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2010/4/section/705C",
    "retrieved_at": "2026-10-29T09:10:29.433154+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}