Related Commentary  Related HMRC Manuals

240(1)  In this Part references to the CITR attributable to any loan, securities or shares in respect of an accounting period are read as references to the reduction which–

(a)is made in the investor's liability to corporation tax for that period, and

(b)is attributed to that loan, or those securities or shares, in accordance with this section and section 241.

This is subject to the provisions of Chapter 5 for the withdrawal or reduction of CITR.

240(2)  Subsections (3) and (4) apply if the investor's liability to corporation tax is reduced for an accounting period under this Part.

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