Related Commentary  Related HMRC Manuals

432(1)  Sections 433 and 433A apply if–

(a)a company is treated as incurring an expense under any provision of Chapter 3 or 4,

(b)the expense arises directly or indirectly in consequence of, or otherwise in connection with, any arrangements,

(c)the main purpose, or one of the main purposes, of the arrangements is to secure that the company is treated as incurring the expense, and

(d)the company makes a loss that wholly or partly derives from the expense.

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