SCHEDULES

SCHEDULE 7Transfer schemes: tax

Corporation tax: loan relationships

11I1

1

If as a result of a transfer the transferee replaces the transferor as a party to a loan relationship, paragraph 12(2) of Schedule 9 to FA 1996 (transfer within group: continuity of treatment) shall apply (whether or not the transferor and transferee are bodies corporate).

2

Expressions used in this paragraph have the same meaning as in that Schedule.