Section 302 — Corporation Tax Act 2009: “Loan relationship”, “creditor relationship”, “debtor relationship”

“Loan relationship”, “creditor relationship”, “debtor relationship” 302 1 For the purposes of the Corporation Tax Acts a company has a loan relationship if—

a the company stands in the position of a creditor or debtor as respects any money debt (whether by reference to a security or otherwise),

and b the debt arises from a transaction for the lending of money.

2 References to a loan relationship and to a company being a party to a loan relationship are to be read accordingly.

3 For cases where this Part applies as if a relationship were a loan relationship despite the money debt not arising from a transaction for the lending of money see Chapter 2 of Part 6 (relevant non-lending relationships).

4 See also the following provisions of Part 6 (under which other matters are treated as loan relationships or rights, payments or profits under loan relationships)—

a Chapter 3 (OEICs, unit trusts and offshore funds),

b Chapter 4 (building societies),

c Chapter 5 ( registered societies ),

d Chapter 6 (alternative finance arrangements),

e Chapter 7 (shares with guaranteed returns etc),

f Chapter 8 (returns from partnerships),

g Chapter 9 (manufactured interest etc),

h Chapter 10 (repos),

and i Chapter 11 (investment life insurance contracts).

5 In this Part “ creditor relationship ”, in relation to a company, means any loan relationship of the company where it stands in the position of a creditor as respects the debt in question.

6 In this Part “ debtor relationship ”, in relation to a company, means any loan relationship of the company where it stands in the position of a debtor as respects the debt in question.