Part 7Tax treatment of financing costs and income

CHAPTER 5Intra-group financing income where payer denied deduction

300Meaning of “relevant associate”

For the purposes of this Chapter, the payer is a “relevant associate” of the recipient if—

a

the payer is a parent of the recipient,

b

the payer is a 75% subsidiary of the recipient, or

c

the payer is a 75% subsidiary of a parent of the recipient.