{
  "url": "https://openlegislation.uk/finance-act-2009/schedule-20/paragraph-3",
  "json_url": "https://openlegislation.uk/finance-act-2009/schedule-20/paragraph-3.json",
  "legislation": "ukpga/2009/10",
  "legislation_title": "Finance Act 2009",
  "legislation_url": "https://openlegislation.uk/finance-act-2009",
  "path": "schedule/20/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": null,
  "text": "(1) Section 375 (late interest: loans to close companies by participators etc) is amended as follows.\n(2) In subsection (1), insert at the end (not as part of paragraph (b))— “ and, where subsection (4A) applies, the non-qualifying territory condition is met. ”\n(3) In subsections (3)(b) and (4)(b), after “resident” insert “ for tax purposes ”.\n(4) After subsection (4) insert—\n“(4A) This subsection applies if C is a company; and the non-qualifying territory condition is that C is—\n(a) resident for tax purposes in a non-qualifying territory at any time in the actual accrual period, or\n(b) effectively managed in a non-taxing non-qualifying territory at any such time.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/10/schedule/20/paragraph/3",
    "retrieved_at": "2026-10-29T09:11:08.872832+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."
}