Related Commentary  Related HMRC Manuals

521B(1)  This section applies in relation to the times in a company's accounting period when–

(a)the company holds a share in another company, and

(b)section 521C (shares accounted for as liabilities) applies to the share.

521B(2)  Part 5 (and the other provisions of the Corporation Tax Acts) apply as if at those times–

(a)the share were rights under a creditor relationship of the investing company, and

(b)any distribution in respect of the share were not a distribution (and accordingly is within Part 5).

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