Related Commentary  Related HMRC Manuals

373(1)  Debits relating to interest payable under a company's debtor relationship are to be brought into account for the purposes of this Part on the assumption that the interest does not accrue until it is paid if–

(a)conditions A and B are met, and

(b)the case is within section 375 or 378.

373(2)  Condition A is that the interest is not paid within the period of 12 months following the end of the accounting period in which it would be treated as accruing apart from subsection (1).

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