Related Commentary  Related HMRC Manuals

456(1)  A company may elect for all of its creditor relationships which are dealt with on the basis of fair value accounting (“fair-value creditor relationships”) to be subject to the provision made by this section for all of its accounting periods.

456(2)  For the purpose of calculating under this Part–

(a)tax-interest expense amounts of the company, and

(b)tax-interest income amounts of the company,

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