Part 1 Amendments of the Finance Act 1996

1. 1Introductory
2. 2Meaning of “loan relationship” etc: method of settlement
3. 3Non-trading deficit on loan relationships
4. 4Debits and credits brought into account
5. 5Authorised accounting methods
6. 6Application of accounting methods
7. 7Accounting method where parties have a connection
8. 8Meaning of “control” in section 87
9. 9Inconsistent application of accounting methods
10. 10Changes of accounting method
11. 11Payments subject to deduction of tax
12. 12Indexed gilt-edged securities
13. 13Manufactured interest
14. 14Interpretation: “shares” not to include building society shares
15. 15Interpretation: miscellaneous
16. 16Provision continuing to be made on accruals basis after company ceases to be party
17. 17Claims to treat deficit as eligible for group relief
18. 18Claim to carry back deficit to previous accounting periods
19. 19Deficit carried forward and set against non-trading profits of succeeding accounting periods
20. 20Distributions
21. 21Life assurance policies and capital redemption policies
22. 22Late interest: further cases where paragraph 2 of Schedule 9 applies
23. 23Bad debts and consortium relief
24. 24Bad debt etc where parties have a connection
25. 25Bad debt etc: parties having connection and creditor company in insolvent liquidation etc
26. 26Paragraph 26
27. 27Bad debt etc: departure not permitted by paragraph 6: subsequent cessation of connection
28. 28Imported losses etc
29. 29Continuity of treatment: groups etc
30. 30Loan relationships for unallowable purposes
31. 31Debits and credits treated as relating to capital expenditure
32. 32Repo transactions and stock lending
33. 33Discounted securities where companies have a connection
34. 34Discounted securities of close companies
35. 35Partnerships involving companies
36. 36Interpretation of Schedule 9: “major interest”
37. 37Investment trusts and venture capital trusts: treatment of capital reserves
38. 38Authorised unit trusts and open-ended investment companies
39. 39Distributing offshore funds
40. 40Life assurance business
41. 41Adjustments in the case of chargeable assets etc
42. 42Reduction of paragraph 11 credit where s.251(4) of 1992 Act prevents paragraph 8 loss